Cryptocurrency strategist James Moore has predicted that Bitcoin will hit $70,000 by the summer of 2022. In his opinion, the expert came to this conclusion after carefully studying the chart of the flagship digital currency. Analysts noted that many factors indicate that this asset will increase in value in the near future.
The expert assured that several indicators at once indicated to him that Bitcoin must overcome several resistance levels, after which the asset price will go to new heights. He emphasized that by the end of this year, the cost of digital gold will certainly repeat its record and conquer the $69,000 mark, after which it will rush above $70,000.
Nevertheless, the expert refused to predict further price movements. He noted that in order to implement such a scenario, the BTC rate must conquer two key levels at $42,000 and then $56,000. If he manages to do this, then we can talk about new records.
According to Moore, the market situation will depend not only on technical indicators, but also on many other factors. He assured that, as of today, the most important aspect is the massive adoption of BTC, as well as the geopolitical situation in the world.
In addition, the expert assured that the growing level of global inflation encourages more and more people, including institutional investors, to invest in the flagship cryptocurrency.
Earlier edition informed that the ex-head of the BitMEX exchange, Arthur Hayes, suggested that the Bitcoin rate would reach $1 million over the next 8 years. According to the specialist, he is confident that the value of the digital asset should reach this value by 2030. The entrepreneur expressed full agreement with the head of ARK Invest, Cathy Wood, and the managing director of MicroStrategy, Michael Saylor.