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Bitcoin’s [BTC] bull run may have started due to a key level and recent pump, claims Vinny Lingham

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Bitcoin's [BTC] bull run may have started due to a key level and recent pump, claims Vinny Lingham
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Bitcoin has been in a bearish downtrend for over a year, but the recent and the sudden rise in prices has caused FOMO among hidden bulls, pushing the price even higher. Vinny Lingham, the CEO of Civic Key and a Bitcoin enthusiast tweeted his views on the current rally and the next possible bull rally.

Bitcoin, at press time, had dipped its toes in the $6,700 level and was trading a few dollars below it. The market cap of Bitcoin has been consistently above $100 billion for more almost a week; moreover, Bitcoin dominance has hit 59%, which was last seen almost a year and a half ago, and the 24-hour price change has reached 7%.

Vinny Lingham tweeted:

Apart from Vinny Lingham, a lot of other veteran traders believed that $6,200 would be a major key resistance for Bitcoin to break and hold. However, some believe that $6,100 to $6,700 is the resistance. Bitcoin’s price already breached this range of resistance, however, the price rise will be significant if the price manages to close above the resistance.

Source: TradingView

Peter Brandt, an old school trader also mentioned that Bitcoin would make another parabolic move in the near future and said that this move would be “magnificent” and would take the price of Bitcoin to $50,000.

Michael Novogratz, the founder and CEO of Galaxy Digital, also added that Bitcoin’s price will triple over the course of next bull run and cross its previous high of $20,000.



A Twitter user @Amoliterno945, commented:

“Nice, Mike. You went through a lot of reporters that day! Really agree with the idea alts won’t go as bananas the next bull run”

Another Twitter user @OryCarter, commented:

“My first bull market experience. Just when I learned how to survive with bears now I must start to learn all over… cant wait. 😁👍”





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Akash is your usual Mechie with an unusual interest in cryptos and day trading, ergo, a full-time journalist at AMBCrypto. Holds XRP due to peer pressure but otherwise found day trading with what little capital that he owns.

Bitcoin

Bitcoin [BTC]: Binance’s CZ and Ryan Selkis try to predict BTC’s maximum value in the future

Akash Anand

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Bitcoin [BTC]: Binance's CZ and Ryan Selkis tries to predict BTC's maximum value in the future
Source: Pixabay

Bitcoin [BTC], the world’s largest cryptocurrency has seen a surge in popularity again after the recent price increase. This movement was also helped by comments and suggestions from proponents and luminaries in the field of digital assets.

A recent tweet had asked Twitter users interested in cryptocurrencies about the “maximum reasonable price that Bitcoin can achieve in the reasonable future”, something which gained a lot of traction after the involvement of famous personalities like Changpeng Zhao and Ryan Selkis.

CZ, the Chief Executive Officer [CEO] of Binance, the world’s largest cryptocurrency exchange, answered the question by stating:

“There is no such a thing as Max price for $btc.”

He was also asked:

“Do you mean potentially infinitely high price of BTC or that in the near future goods and services will be priced in BTC and it won’t make sense to correlate it with USD?”

CZ’s reply was to the point when he claimed that there was no such thing as maximum inflation for fiat, a statement that a lot of people agreed with.



Ryan Selkis, the Founder of Messari had another opinion to the original question. He said,

“After $250k / BTC the dollar’s reserve status will be in jeopardy, so all bets are off.”

CZ and Selkis were not the first individuals to predict such positive movement as many in the past have predicted Bitcoin to reach heights of even $1 million per Bitcoin. At the time of writing, Bitcoin was trading at $7,967.54, with a total market cap of $14.21 billion. The 24-hour trading volume of the cryptocurrency was $21.04 billion, while the currency was holding a steady 0.45 percent increase in its value over the hour.





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