Bitcoin Is Poised To Hit $100,000 – Investors Should Reportedly Hop In The Crypto Wagon
The optimistic predictions regarding Bitcoin keep pouring in the crypto space these days.
As you know by now, not too long ago, Bitcoin suffered a strong correction, but it’s slowly gaining back its losses.
Now, ClemChambers, who is a market analyst and CEO of global finance tracker ADVFN believes that the crypto industry is searching for “a killer app” these days.
BTC will reportedly head to the moon
According to the latest reports coming from the DailyHodl, he said that anything could happen to BTC in its quest to become a leading form of digital money and store of value as well.
At this point, BTC will wither shoot to the moon or fall really low. In a brand new article at Forbes, Chambers wrote:
“It’s a great market to trade if you want to play that game, and you are great at it. Trade away. But if you want to invest or dump Bitcoin, the decision remains simple.”
Chambers said that his strategy does not involve selling BTC holdings, and what he does, is buying, holding, and then buying even more at lower prices.
He predicted that if BTC sinks below $7,500, then there will be “another big drop” on the way.
He said: “Bitcoin (BTC) [will either reach] $100,000-plus or $0. Pick your side and invest accordingly as [there’s] no mid-ground.”
BTC poised to cross the $10k mark soon
But he believes a recovery back to all-time highs is more likely, and BTC could again cross the $10,000 mark in the short term.
“Bitcoin has crashed [before], but it doesn’t seem like ‘the end’ to me, just a nasty pullback and a delay to the great day Bitcoin runs past $20,000.”
At the moment of writing this article, BTC is trading in the red and the most important digital asset in the crypto space is priced at $8,348.74.
CoinMarketCap is a website that provides cryptocurrency market cap rankings, charts, and more. It was purchased by Binance for $400M in 2020.
Andreas Townsend Author
I am a technical writer, author and blogger since 2005. An industry watcher that stays on top of the latest features, extremely passionate about finance news and everything related to crypto.