- Bitcoin hit its highest all-time today.
- But how long will it stay at these levels?
- A round of experts share their thoughts.
So after much speculation that Bitcoin’s volume would rise higher than ever before, it did. Bitcoin price cruised past $ 20,000 today to hit a new all-time high price of $ 20,836.
The question: What now?
Will Bitcoin still go up, or is it the last few days before a crash that will dry up Bitcoin off the planet, as well as smiling off her smug face bidders?
Eric Wall, CIO at crypto investment firm Arcane Assets, said Decrypt that the price of Bitcoin will go “up, as you would not believe.”
“We crossed the previous ATH in the midst of intense institutional accumulation,” he said. “Weak hands had to sell off, now they done. ” We are probably going to keep up from here, ”he said.
But for how long? “30 minutes? Forever? Who knows? He said. “It’s uncharted territory now.”
Pedro Febrero, an analyst at crypto research firm Quantum Economics, said Decrypt that people would start selling lots of Bitcoin if it reached $ 23,000. Looking at charts showing the demand for Bitcoin at a given price, he has concluded that the price of Bitcoin will increase until it hits $ 23,000.
Then, people will sell the coin until it hits $ 19,500, he predicted. “We expect the pattern described could take a few days to complete,” he said.
Rob Viglione, co-founder and CEO of Horizen laboratories, is already bored with the highest ever highs. “$ 20k as a psychological anchor for Bitcoin is already old news,” he said Decrypt, meaningful to people who were around during the 2017 bull run.
“We’ve gone beyond that, this is a new market cycle,” he said. The “real news,” Viglione corrected us, “is that many of today’s buyers see the current price as a record and not a mental upper bound.”
Of course, the only way to work out what happens next is to strap yourself into Bitcoin rockets. To da moon?
The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment or other advice.