BTC hodlers were clutching to their hearts when the value of BTC started to go down in February 2021. The flagship currency has been seeing a continuous bullish trend since the year 2020. There are many types of cryptocurrencies and crypto-assets launched in the market after BTC. However, this cryptocurrency has been able to get the most attention and most number of investors from all parts of the world.
A pseudonym crypto Influencer was among the first ones to put BTC traders at ease and recognize the ‘bear market bottom’ of Bitcoin in the previous month. Just like his prediction, BTC started to go in a bullish trend again after reaching a drop of $43,000. Now, that BTC has started to move upwards steadily and reached a position of another all-time high above $58,000, another interesting prediction has been added by @SmartContractor.
How Far Can the BTC Bullish Wave Climb?
@SmartContractor did not just point out the BTC bullish trend but also put a number on the ultimate highest evaluation. While replying to a tweet from another BTC enthusiast @SmartContractor agreed to BTC being valued at $60,000 to $70,000 in the current bullish wave. It should be noted that after entering a bull trend since Feb 2021 BTC has kept showing a steady upwards trend to date.
The distinguished crypto Influencer called out a “double bottom trend” for BTC in his latest tweet. As per the statistics shared by Investopedia, a double bottom signals a reversal and entrance of another huge uptrend for Bitcoin. As the dominant cryptocurrency, the BTC market cap is moving from the bottom to 60% and going towards a steady climb of 66% of the total market capitalization. The total evaluation of the entire Bitcoin market is valued at $1.7 trillion at present.
Bitcoin’s $58K Position Turning Skeptics into Believers
Even, the most skeptical market analysts like Peter Schiff have admitted defeat in the face of the BTC bull wave. The Gold bug and Euro Pacific CEO has for the first time mentioned BTC with a bullish endorsement. After BTC crossed the $50K mark, the global gold dealing giant has admittedly predicted this climb to reach a six-figure around $100,0000 before the end of this year.
Reaching this type of high position would mean a total market cap of $20 trillion. Some of the most seasoned and well-known investors like Shark Tank Star Kevin O Riley agree with this notion. The well-known investor who has earned the nickname of Mr. wonderful says that a 100,000 evaluation for BTC does not seem like a crazy idea. The temporary dip of BTC evaluation in February 2021 has been thought to cause by the appointment of Gary Gensler as the chairperson of the US Securities and Exchange Commission (SEC).