Bitcoin price will have little trouble hitting $15,000 once resistance at $10,000 falls, Tyler Winklevoss believes.
Bitcoin ‘Cheap Until It Disrupts Gold’
Writing on social media as Bitcoin price circled $9250, one half of the Winklevoss twins forecast that the cryptocurrency’s trajectory would see it home in on its 2017 all-time high of $20,000.
“If bitcoin breaks 10k, you can bet it’s going to break 15k,” he tweeted June 19.
BTC/USD has broadly recovered from a correction earlier this month which saw the pair touch a low of $7570 on June 10. The latest in a series of surges, Bitcoin price subsequently set its highest level in over a year of $9430 just days later.
Shaking off concerns such as controversial incoming regulation, Bitcoin markets continue their bull run which began April 1, taking gains for investors to more than 130 percent over the past three months alone.
For Winklevoss, as the co-founder of exchange platform Gemini, BTC is still undervalued in the long term.
Asked why he was so bullish about the market in its current state by ‘Broken Markets’ author Joe Saluzzi, he said that while it remained a comparative niche, Bitcoin is a buy.
“It’s a cheap asset until it disrupts gold, however, the 2nd time breaking 10k will make it feel more ‘real’ to many people,” he responded.
$40k Before End Of 2019?
While BTC/USD has so far failed to retake the $10,000 mark, which it last did in March 2018, this year’s bull run has restored faith among investors and presented a headache for naysayers who had already announced the cryptocurrency’s ‘death.’
As Bitcoinist reported, the coming weeks will see a ‘Cryptocurrency Duel’ between serial Bitcoin hater Nouriel Roubini and BitMEX CEO Arthur Hayes, while fellow arch-bear Warren Buffett will face a host of crypto industry figures at a dedicated charity lunch event.
Meanwhile, other advocates have delivered even more enthusiastic Bitcoin price forecasts than Winklevoss. This week, Fundstrat Global Advisors senior analyst Tom Lee doubled down on his previous price talk, claiming BTC/USD would reach $40,000 before 2020.
Similarly, such a huge move would come as a result of investor ‘FOMO’ – ‘fear of missing out’ – once Bitcoin hit $10,000 again, he had said.
Lee is a case in point for Bitcoin sentiment over the past six months. At the end of 2018, when price hovered around $3000, he had said he would retire from predicting its path for clients, only to resurface during the bull market several months later.
What do you think about Tyler Winklevoss and Tom Lee’s predictions? Let us know in the comments below!
Images via Shutterstock, Chepicap
Let’s block ads! (Why?)