The market-leading cryptocurrency recently posted a bull run higher than 10k. Could there be volatility in the price of Bitcoin?
Bitcoin managed to exceed 10K
After trying for a month to get past the 10K barrier, the market-leading cryptocurrency, Bitcoin managed to reach this psychological barrier of $ 10,000.
In a prediction made yesterday, it was pointed out that Bitcoin could have a bullish movement that would bring it closer to 10K, and indeed, at night it did, with a maximum of USD 10,380. Is the price of Bitcoin showing volatility?
Recall that the third Bitcoin Halving was recently held, an event that, as has already been pointed out in previous moments, is considered an important catalyst for the price of the main cryptocurrency on the market.
However, even though tremendous volatility was expected in the short term, the opposite has ended up happening. Creating small movements that have helped to achieve a great consolidation. In this context, Bitcoin’s long-term behavior is estimated to be bullish.
Irony in BTC price prediction? John McAfee makes fun of who believed in his bet
John McAfee, an eccentric cryptocurrency advocate and British-American entrepreneur, in a tweet called for his own prior prediction that Bitcoin’s price would hit $ 1 million as total “nonsense.”
McAfee used the entire GDP of the North American continent as a comparison reference to explain why his call was just a joke, stating that:
“If Bitcoin were to hit $ 1 million, its market capitalization would be greater than the GDP of the entire North American continent.”
In its recent tweet, McAfee called Bitcoin “the most crippled cryptocurrency technology.”
This is not your first time to decline to the first cryptocurrency. Earlier this year, he described Bitcoin as “old” technology and his prediction of the $ 1 million price tag was simply his trick to lure new users into space.
Recall that McAfee has been surrounded by controversy in recent times. Thus, in January 2019 it was reported that he had fled the US. USA in order to launch his 2020 presidential campaign from a ship in international waters.
Institutional investors show interest in BTC
One of the major challenges that the crypto market is exposed to is overcrowding. Having the need for investors to join it and thus Bitcoin can generate and earn value within transactions. In this sense it is really helpful for institutional investors to show interest in the cryptocurrency.
Recall that a decade ago Satoshi Nakamoto, the creator of Bitcoin, launched the cryptocurrency with the aim and intention that the virtual currency be used by thousands of people worldwide and even reach the unbanked. The purpose was to achieve daily transactions by a sufficient number of individuals and thus achieve their mass.
However this has not been achieved. And it is here that these institutional investors have and play a super key role, since if they invest billions of dollars in the market, they would be giving signs of use to other investors who would surely begin to see Bitcoin in a very attractive way.
Despite not being closely related, everything points to a change taking place, even after the volatility in the price of Bitcoin. Companies like Grayscale is allowing investors to take an interest in Bitcoin.
In a few lines…
- By 2021 the price of Bitcoin may exceed $ 40,000, according to Bobby Lee’s prediction. The expert’s Twitter post compares the medium-term growth of the cryptocurrency to the Cybertruck, a vehicle created by Elon Musk.
- PandaBTM announced the launch of its new WebApp that will allow users to buy crypto assets from their own web browsers. The announcement was made yesterday June 1 through its official blog. The application will only be available in Colombia.
- The company Square Crypto announced that the winner of a new round of grants for the development of tools and products focused on Bitcoin was the Spanish Sergi Delgado, who is the creator of Talaia, a project focused on Bitcoin and the development of Lightning watchtowers. Network.