Naeem Aslam, ThinkMarkets chief market analyst has predicted that bitcoin (BTC) will climb somewhere between $60,000 and $100,000 during its next bull run.
Aslam had previously predicted on June 17 that BTC would hit $10,000 in “a couple of weeks,” citing institutional involvement as a major driver. Bitcoin reached the five figure mark on June 22nd.
Aslam says the major price points to watch now are $20,000 and $50,000. He argues that by hitting $20,000, discussion will move from conservative estimates exceeding the number one cryptocurrency’s all-time high to forecasts of $50,000; from there, breaking $50,000 will move the price target to $100,000.
Aslam also compared BTC, which is often called digital gold with gold. He remarks that in the last two months, there is a huge spike in price for these two assets, which he attributes to a lack of confidence in the stock market along with the ongoing U.S.–China trade war.
Aslam said BTC now has a reputation as a safe haven for storing wealth, saying there is evidence of investors parking their capital in the leading crypto.
Remember that Bitcoin podcast host Trace Mayer had said that the bitcoin price in 2019 will likely close at $21,000.