Analysts have predicted that BTC price could make a massive surge to stay around $14,000. Most experts have given negative remarks as to the future of Bitcoin in the past few days following the resistance it encountered at $12,000.
A renowned trader and investor has said that all those predictions should be treated with kids gloves as he was sure BTC price would reach $14,000 in the coming weeks.
In his message on August 14, he reaffirmed that Bitcoin was going to follow an upwards trend after a period of reaccumulation. It should be noted in previous trends, Bitcoin follows a pattern whereby after every reaccumulation, it makes a massive price surge.
Traders say Bitcoin is suited to reach $14,000 in the next few weeks
Talking about how the reaccumulation could help BTC price move into the $14,000 price region, the trader said:
presently, Bitcoin looks well placed, and in my honest opinion, the sideways trend means it is gathering up to move against a resistance.
He further noted that those that are seeing a bearish return should not speak at all as they don’t know anything about the market.
It should be noted that the trader is not the only person who feels Bitcoin could make a huge surge soon. Another trader that predicted the Bitcoin lows in March has said Bitcoin would make a surge very soon.
Galaxy Digital CEO says BTC price could test $20,000 before the year ends
The Marco factor and the key fundamentals of the digital asset are the key reasons why experts and traders alike are having hopes of a bullish return.
CEO of Galaxy Digital, Mike Novogratz said at the beginning of the month that the influx of cash is helping people invest a lot in Bitcoin and other assets.
According to Novogratz, BTC price could climb to $14,000 before the month runs out and probably to $20,000 at the end of the month. News has been flying around that Microstrategy bought around $250 million worth of Bitcoin, and this move might push the price of the leading digital asset.