With the price movement of Bitcoin becoming less volatile and the markets becoming unstable once more, some people think a crash is imminent for BTC, while some believe and anticipate a potential for further upward surge.
New All-Time High For Bitcoin Is Within An Arms Reach
In a recent development on the social media platform X (formerly Twitter), Cryptocurrency analyst and investor, Crypto Jelle, has shared a bold prediction regarding Bitcoin – the leading crypto asset.
The crypto expert’s analysis came in light of the bearish speculations within the community around the price action of BTC. According to him, many people are discussing the bearish signs, pullbacks, and corrections that BTC could witness in the near future.
However, Crypto Jelle has asserted that despite the negative sentiments it “does not change anything about the bigger picture” for BTC. Furthermore, he has urged investors to “stick to the plan,” noting that a new all-time high is just “within arms reach.”
The post read:
Lots of people talking about bearish signs, pullbacks, and corrections, but these things change nothing about the bigger picture. Stick to the plan, all-time highs are within an arms reach.
Jelle has also highlighted another reason why he is bullish on Bitcoin and sticking with the digital asset. In another X post, Jelle stated that BTC is still holding above $50,000, with the entire crypto market cap approaching $2 trillion.
Nonetheless, the “average Joe still does not care,” prompting him to believe that “the cycle is not over” yet. He further pointed out that there will be lucid indications that retail is about to flood the market.
As a result of this, Bitcoin is set to witness higher adoption as search interest for BTC will surge higher. Jelle anticipates that during this time, American-based crypto exchange Coinbase will return to its top spot in the app store.
BTC Compared To Warren Buffett’s Berkshire Hathaway Stock
Lately, a lot of market experts have appeared to be bullish about Bitcoin. One of these is Max Keiser, a BTC advocate, who has compared the crypto asset to the well-known Warren Buffett’s Berkshire Hathaway Stock.
According to Max Keiser, acquiring BTC today is just like buying Berkshire Hathaway shares in its initial days. It is noteworthy that during its earlier days, the stocks were sold for $1,500 each, which is now being sold for $628,000. With this comparison, Keiser advocates that BTC could potentially rise by over 41,000% at its present price of $51,000.
This price of Bitcoin is down by over 2% in the past 7 days, currently trading at $51,147. CoinMarketCap’s data shows that its market cap is down by 0.86%, while its trading volume is up by over 6%.
Featured image from iStock, chart from Tradingview.com
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