Bitcoin has recently exploded, causing massive enthusiasm and surprise in the crypto space.
As Investinblockchain notes, BTC recently managed to surge higher above the $9,000 mark, and the most important digital coin in the market even reached $9,090 on CoinMarketCap.
Before this happened, “BTC was struggling to make any movement above the $8,888 level, causing BTC/USD to drop into support at $8,490.”
Another bullish BTC prediction
Another day, another optimistic Bitcoin prediction. The co-founder and managing partner at Kinetic Capital, which is a blockchain investment company just said that the incoming institutional investment in the crypto world of crypto provides a strong backbone for the future of this innovative industry.
Jehan Chu told Bloomberg that according to his opinion, Bitcoin would rise to $30,000, as investors look for alternative types of technology investments.
Potential triggers of the growth
“What people are really seeing now is that cryptocurrency is not going away. And you don’t have to take my word for it. It’s Facebook, it’s Jamie Dimon, it’s Rakuten, it’s Fidelity – all who are getting in the space either in building infrastructure or providing services. So that’s first. It’s going to drive mindshare and drive adoption,” he said.
He continued and pointed out the second catalyst: “Second, I think what we’re seeing is a counter-cyclical argument.”
He also said that the third trigger for this surge is the fact that Bitcoin halving is coming and that usually pushes the price in double-digit percentages.
He stated that all thee three factors combined will see BTC getting to $30k.
He also made sure to praise the enormous potential of ETH, Ripple, and XRP, as reported by the Daily Hodl.
Bitcoin in the market now
Now, BTC is trading in the red on CoinMarketCap, and the coin is priced at $8,263.55.
As you can see, since yesterday’s spike BTC dropped and Investinblockchain mentioned that “as Bitcoin exploded above $9,000, traders started to exit their positions causing the volatility to increase and price action to fall.”
They also note the fact that BTC surged so much is evidence that the bulls want to that the crypto higher.