AngeloBTC, a recognized cryptocurrency analyst, has shared a TradingView post on Twitter showing that Bitcoin (BTC) could eventually reach $30,000 by 2021. Although the crypto market has been in a bear trend since 2018, several analysts remain bullish about the future of the space.
Bitcoin Could Reach $30,000 During the Next Bull Run
It seems that a new bull run could start in the near future. According to AngeloBTC, a trader that was able to score thousands of BTC during the bull run of 2017, Bitcoin could skyrocket to $30,000 in the future. That means that the most popular cryptocurrency could be traded 50% higher than during the last bull market.
— Angelo฿TC (@AngeloBTC) March 9, 2019
According to his blog post in TradingView, Bitcoin and cryptocurrencies are just a minuscule asset class.
He wrote about it:
“Cryptocurrency as an asset class is minuscule – a drop in the bucket. A $1 trillion market capitalization would still be undervalued for crypto to have any meaningful impact as a store of value/currency.”
He went on explaining that Bitcoin could drop down to zero or grow ten times its current price. However, he said that there are no middle-range values.
The Twitter user and trader has been absent from the crypto space for a long period of time. After the bear market started, he posted just a few tweets during the year. It seemed that he was not paying close attention to the digital asset market, or at least he was not sharing his insights about it with the community.
Individuals in the space are very excited about Bitcoin and the future of the cryptocurrency. After falling 80% in over a year, the community is expecting it to grow and reach new highs in the future. Following AngeloBTC’s price prediction for this cryptocurrency, the digital asset would have to grow more than 600%.
Although this is not an easy task, it is possible for the cryptocurrency to experience such growth. In the past, during 2017, it grew 1,900 from under $1,000 to $20,000. AngeloBTC is not the most bullish analyst in the space. John McAfee predicts that by that time Bitcoin will be worth more than $1 million.
At press time, Bitcoin is being traded close to $3,950 and it has a market capitalization of $69.51 billion.