The crypto space is flooded with all kinds of optimistic predictions about the price of Bitcoin.
The much-awaited event is set to take place in 14 days from now, and the crypto enthusiasts are expecting massive price moves in the crypto market.
A new BTC bull cycle is on the way
Market analyst and podcaster Preston Pysh said that he believes that there’s a Bitcoin bull cycle on the way that will take the crypto above $100k.
At the moment of writing this article, BTC is trading in the green, and the coin is priced at $7,760.43.
In a recent interview, he pointed out to the BTC halving, and he called the event, a catalyst for a parabolic rally that could bring BTC to $300k.
“Do I think that it’s just going to up to [$100,000] and stop? Hell no. It’s going to go straight through that number. It’s probably going to go to $200,000 to $300,000,” he explained.
Jack Dorsey has one thing listed in his bio on twitter.
So here’s the question for people that think BTC won’t work:
— Preston Pysh (@PrestonPysh) April 23, 2020
He continued and said, “And then, if it doesn’t meet its escape velocity, which is a whole other term, which is, in my opinion, completely dependent on all this other macro stuff that we’ve been talking about… then it’s going to come back to that $80,000 to $100,000 mark. And it will stay there until the next four-year halving event.”
He also had a few things to say about the “real economy”:
So based on these manipulated markets, here’s my conclusion:
1. I like Bitcoin (& I like gold until the start of 2021)
2. Bonds totally suck
3. A few stocks will work – most won’t
4. Commodities will be insanely volatile
Post 24 //End of Thread
— Preston Pysh (@PrestonPysh) April 27, 2020
Stay tuned for more fresh news in the crypto market.