It’s been just revealed that Bitcoin could see a massive price rise. Check out the latest reports about this below.
Bitcoin could copy the rise of Apple, new reports claim
According to Jurrien Timmer, the global macro director at Fidelity Investments, the fluctuating cycles of crypto assets resemble those of the tech bubble, with both experiencing periods of bullishness and bearishness.
According to Timmer, similar to how Amazon and Apple emerged as successful tech stocks during the tech bubble, the crypto industry is facing a similar situation where certain digital assets will thrive while others may not survive.
Timmer believes that Bitcoin (BTC) has the potential to become the “Apple” of the cryptocurrency market.
“Crypto’s boom-bust cycle can be compared to the dot-com bubble of the late 1990s. The internet bubble took many unqualified stocks to astronomical heights, only to see them lose most or all their value when the bubble burst.”
He continued and said:
“In that process, the long-term winners, such as Apple and Amazon, were separated from the losers. The same has so far proven to be true for crypto. If we assume Bitcoin is the Apple of the digital-asset age, then it could make sense that Bitcoin not only survives the crypto winter but even thrives and takes market share from other digital assets.”
BTC price alert is out
A widely followed crypto strategist and trader is predicting a bearish period for Bitcoin (BTC) over the short term.
It’s been revealed that a crypto strategist Credible Crypto said that Bitcoin is set to fall.
As per the insights from Credible Crypto, Bitcoin is presently situated below a crucial resistance level. This occurred after a surge that resulted from a short squeeze during the US Memorial Day weekend.
An analyst has predicted that Bitcoin could see some minor growth, but their negative outlook can only be reversed to a positive one if the Chicago Mercantile Exchange (CME) gap, situated just above the $29,200 mark, is recovered.
