An influential crypto analyst predicts that Bitcoin (BTC) is poised for a significant surge as market sentiment improves.
In a recent Twitter thread, the pseudonymous trader known as Dave the Wave shares with his 152,600 followers on X that Bitcoin’s resilience as an alternative currency or digital gold is becoming increasingly evident, despite initial concerns of a market panic.
“A few months ago, there were fears that BTC would be impacted by a general market panic and funds would flow into USD. However, we’ve seen money moving away from USD as well, with Bitcoin now approaching all-time highs. This is because BTC serves as an alternative currency/digital gold.”
Dave the Wave suggests that if Bitcoin continues its recent momentum, it could surpass its previous all-time high of approximately $109,000 in the coming weeks.
Based on the trader’s analysis, Bitcoin is expected to hit a new all-time high in June, potentially reaching $160,000 by the end of the year, far exceeding its previous peak.
As of now, Bitcoin is trading at $97,499, showing a slight increase for the day compared to just under $85,000 on April 20th.
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