If Bitcoin (BTC) is able to maintain a support level above $50,000, the senior manager of Valkyrie Investments said; He said it could see a big price increase for the rest of 2021.
In a new interview with Bloomberg Quicktake, CEO Leah Wald said that the $50,000 mark is a very important level for BTC and if the cryptocurrency is able to maintain this level and turn it into support, it could trigger a bull run.
“This $50,000 price level is the real key psychological hurdle… If BTC can break through the $50,000 area and stay there, we expect this bull run to push it to all-time highs in the fourth quarter.
[Ancak] If BTC continues to face resistance at $50,000, or fails to break this area or provide support; Our analysts believe it will likely drop to $45,000 and consolidate here before another push to $50,000.”
Bitcoin broke the $50,000 barrier on October 5th and is changing hands at $53,866 at the time of writing, according to data from CoinGecko. However, Wald said that he could not make a precise prediction about what the price of BTC would be if BTC turns the $ 50,000 level to support, but he is bullish on BTC.
“I’m not quite sure what the price might be, but I can say I’m very excited for October and definitely excited for Q4.”
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.