A closely followed crypto analyst says that Bitcoin (BTC) is gearing up to skyrocket as market sentiment improves.
In a new thread, pseudonymous crypto trader Dave the Wave tells his 152,600 followers on the social media platform X that, due to its status as an alternative currency or a digital form of gold, the crypto king is showing resilience during times when many traders thought money would be flowing out of it.
“A couple of months back, people were worried that the BTC market would be caught up in a general market panic and that money would fly to USD. Instead, we saw money fly away from the USD as well, and BTC is now pushing all-time highs. This is because BTC is an alternative currency/digital gold.”
Dave the Wave goes on to say that if the top crypto asset by market cap has another week like the last one, it could shoot past its previous all-time high of about $109,000.
According to the strategist’s chart, BTC should reach its all-time high sometime in June. The trader then says that by the end of the year, the flagship digital asset could hit a staggering price tag of $160,000, shattering its previous all-time high.
Bitcoin is trading for $97,499 at time of writing, a fractional increase on the day. On April 20th, it was moving for just under $85,000.
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