Bitcoin is on the cusp of a $ 50,000 macro breakout

This was stated by IT Director of Adamant Capital Tuur Demeester. In his opinion, the coin is already preparing for a big movement, whichcould positively impact some altcoins and the DeFi market.

Bitcoin's macro breakout is just around the corner

Bitcoin's recent price move above $ 10,000was not a macro breakout at all. Analysts are confident that the rise in the value of Bitcoin (BTC) will continue. This idea was voiced by Tuur Demester, IT Director of Adamant Capital. In particular, he stated that the coin is already on the verge of rapid growth.

“I don’t know when the party is over ... I canbe wrong, but I think bitcoin is slowly preparing for the big leap and some alts will follow. Compared to DeFi aligned coins, BTC can be seen as a fairly low level of risk. "Demester said.

His opinion is shared by the chief analystcrypto research firm Blockfyre. According to him, the trend line represents a three-year downtrend formed at Bitcoin's all-time high of around $20,000.

According to Demeester, Bitcoin could be worth 50,000dollars per coin. Speaking to Messari earlier this year, the investor said Bitcoin could reach $50,000-$100,000 due to money printing and institutional adoption.

Bitcoin will gain massive acceptance

The price of Bitcoin will rise as it becomes more popular among retail users and institutional investors. Former world chess champion Garry Kasparov shares the same opinion.

In an interview with Forbes, the former world chess champion noted:

“Anything that will allow us to take back control or thoughto have some degree of control over privacy is always welcome. " He also added that "people are looking for alternative ways to preserve their wealth and protect wealth from inflation or uncontrolled government interference in their financial affairs."

It is also noted that more and more bitcoinsenter the cryptocurrency markets. According to the latest report from analytics service Glassnode, in July of this year (as of July 19), the volume of bitcoins entering cryptocurrency trading platforms exceeded the number of BTC withdrawn from exchanges for the first time since January. It is noteworthy that before this, for 6 months, the outflow of bitcoins from crypto exchanges consistently exceeded their inflow.

</p>

Rate this publication