Bitcoin’s price has triggered massive enthusiasm and excitement since the bulls came back to the crypto market back in June.
If 2018 started with BTC just above $3,000, now BTC seems to have found support above $8,600 and the most important coin in the crypto space has even managed to surge above $9,000.
The price-related predictions are intensifying, and most of them are bullish regarding the price of BTC. Here’s the latest one.
Bitcoin to hit $12,000
According to the Daily Hodl, the CEO of Civic, the price of BTC could soon surge above $12k.
Vinny Langham was bearish on BTC not too long ago, and he recently said that BTC’s “newfound return to volatility makes him believe that the most important coin in the crypto market will reach $12k soon and the coin will then find consolidation around $10,000,” as Oracle Times notes.
This BTC action looks aggressive. Makes me think that we may blow through $10k and test $12k very soon, but $12k is a very heavy resistance level, so I would expect consolidation around the $10k level for some time if $12k is (likely) rejected.
— Vinny Lingham (@VinnyLingham) May 31, 2019
Peter Brandt also has an interesting prediction regarding the price of BTC.
He said that BTC managed to become stable after the sudden drop from $9,000 to $8,400.
Brandt is the one who called the BTC collapse from January 2018. He also said that BTC’s parabolic rise could take the price of BTC as high as $300k.
Potential catalysts for BTC’s surge
First of all, Mati Greenspan, senior analyst at eToro has just stated that Bitcoin’s increasingly limited supply may be the very trigger that makes BTC rally for a while:
“The recent surges in Bitcoin are mainly based on the supply side. There’s already a shortage of Bitcoin in the world, and with the halving event coming up next May, the countdown to even less supply has already begun.”
More than that, a new report from Diar agrees with Greenspan’s theory, and it says that the whales have been gathering BTC since August 2018.
Other than this Bitcoin also seems to have reached mainstream adoption since Microsoft listed BTC as a currency option in Excel.
Fergus Reynolds joined Crypto Daily Gazette as managing editor in January of 2018 and is helping to lead the digital media startup’s next phase of expansion. A veteran business journalist with more than 10 years experience economics, Fergus has published content for Huff Post and Buzz Fee and was among the earliest journalists covering bitcoin and the innovations it later inspired. Fergus tells us he has “several” bitcoins.