A closely followed crypto analyst says that Bitcoin (BTC) is gearing up to skyrocket as market sentiment improves.
In a new thread, pseudonymous crypto trader Dave the Wave tells his 152,600 followers on the social media platform X that, due to its status as an alternative currency or a digital form of gold, the crypto king is showing resilience during times when many traders thought money would be flowing out of it.
-->“A couple of months back, people were worried that the BTC market would be caught up in a general market panic and that money would fly to USD. Instead, we saw money fly away from the USD as well, and BTC is now pushing all-time highs. This is because BTC is an alternative currency/digital gold.”
Source: Dave the Wave/XDave the Wave goes on to say that if the top crypto asset by market cap has another week like the last one, it could shoot past its previous all-time high of about $109,000.
According to the strategist’s chart, BTC should reach its all-time high sometime in June. The trader then says that by the end of the year, the flagship digital asset could hit a staggering price tag of $160,000, shattering its previous all-time high.
Source: Dave the Wave/XBitcoin is trading for $97,499 at time of writing, a fractional increase on the day. On April 20th, it was moving for just under $85,000.
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