After testing critical support at $44,000 mid-week, the bitcoin price has regained ground above $47,000. At the time of writing, BTC was trading a little above $47,000. As the focus changes to $50,000, buyers are more interested in getting higher support. The bullish trend is expected to continue, with bulls aiming for $50,000 as the next major barrier level.
Cryptocurrency holders have taken 111,000 BTC from exchange wallets in just 30 days.
Full-time bitcoin skeptic Peter Schiff stated that BTC’s price may rise above $100,000 in the near future.
He didn’t shy away from stating his critical position on bitcoin while speaking with Natalie Brunell of Coin Stories. Having said this he also claims,
“Clearly, I wish I had bought bitcoin when I first heard about it – that was a keen mistake. Could have put $100,000 in it – yeah, I could have. I mean, I put $100,000 in other things that turned out poorly.
I could have been one of the bitcoin billionaires now, as obviously I knew about it early on. If I could go back in time, that’s one of the things I would do.”
Ethereum Price To Hit $4k Soon?
Bitcoin and Ethereum are in strong demand following the rebound, as their values have remained stable. Following the 19th of May, both assets retained a strong structural link. Although, if the trend continues to be optimistic, Ethereum may have a tiny advantage in the long run. In most circumstances, Ethereum tends to follow Bitcoin’s movement.
Ethereum’s price followed a similar path to bitcoin’s, and it began a new upward trend from the $2,950 support level. Above the $3,150 and $3,200 resistance levels, ETH has recovered. It is currently encountering resistance near $3,210, above which the price could test the $3,300 mark. As investors eye the important resale, the coin will most likely maintain its bullish path while rally to $3500.