Bitcoin Price Prediction as $10 Billion Sends BTC Above $30,000 Resistance – New Bull Market Officially Starting?
As this news breaks, it appears that a new bull market in cryptoassets may be officially on the horizon. This news was spurred by reports that a large whale investor has moved over ten billion dollars worth of bitcoin into their wallet, and the price is now comfortably above prior $30,000 resistance levels. Thus, it would appear that the momentum that was generated by the institutional investment has resulted in a new bull run, and the possibility of even higher prices in the near future.
No one can predict the exact price of bitcoin in the near future, but it is certainly quite possible that the price could continue to rise substantially in the coming weeks and months. If we were to make a prediction, it is likely that bitcoin could easily reach or even exceed its prior all-time-high of $20,000 in the near future. This could depend on a variety of factors, such as the success of institutional investors continuing to purchase large amounts of bitcoin, or if other investor sentiment turns bullish and more people begin investing in the asset.