According to a recent Bloomberg article, Vijay Aiyar, head of the Asia-Pacific region at the Luno exchange, is linked to Barry Silbert in Singapore. Barry Silbert suggests that it is quite possible for the Bitcoin (BTC) price to rally to $80,000 or even the $85,000 region. For details cryptocoin.com You should keep reading.
“If Bitcoin manages to stay above $50,000 in the short term, there is a chance of 85,000”
At the time of writing, the leading cryptocurrency was trading at $56,425, down 1.9% in the last 24-hour timeframe, according to CoinMarketCap data. However, on a weekly basis, the Bitcoin price is up about 13%. BTC touched $57,627 in the last 7 days and bounced back. The leading crypto is still 13.18% lower than its ATH of $64,863 reached on April 14 this year.
Bitcoin (BTC) has a good chance of reaching $80,000 or $85,000 in the short term, provided it stays above $50,000, according to Vijay Ayyar of Luno trading platform acquired by Digital Currency Group founded by billionaire Barry Silbert, who is also the founder of Grayscale.
Bitcoin’s measured target: $79,000
Bloomberg shared charts showing that the leading cryptocurrency could significantly exceed $64,863, the all-time high (ATH) reached in April. An inverted Head and Shoulders pattern shows the possibility of BTC rising to the $79,000 level. According to data shared by Bloomberg, an Ichimoku signal and options market also suggest that it could potentially rise to $80,000 by the end of this year.
Bitcoin is flirting with a run towards its all-time high after bouncing more than 90% since its low in July.
Rising US debt is good for Bitcoin, according to Mike McGlone
Another Bloomberg expert, Mike McGlone, expects Bitcoin to make significant gains in the fourth quarter this year. cryptocoin.com As we also reported in our news, Mike McGlone tweeted on Monday that rising US debt and tensions over a potential default situation could help Bitcoin enter a unique price increase phase in Q4.
For related news: Analyst With Foresight: Bitcoin May Enter Unique Stage!
Earlier this year, Mike McGlone mentioned $100,000 as a possible year-end price target for Bitcoin, a figure that has been talked about in the markets recently.
According to crypto analyst Yuri Molchan, traders are becoming extremely greedy towards BTC, as the Fear and Greed Index, used as an indicator for BTC price prediction, now shows 78, which stands for “extreme greed.” Despite JPMorgan CEO Jamie Dimon’s recent statement regarding Bitcoin’s alleged worthlessness and Chinese authorities seeking ways to legalize the ban on crypto transactions and mining announced in September, Bitcoin continues to grow. Bitcoin (BTC) price and detailed market data from here you can see.
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