The top executive of Valkyrie Investments says that Bitcoin (BTC) could see a massive price surge for the rest of 2021 if it can maintain a support level above $50,000.
In a new interview on Bloomberg Quicktake, chief executive officer Leah Wald says that the $50,000 mark is a crucial level for BTC and that crossing it could trigger a bull run.
“That real key psychological barrier is that $50,000 price level… If BTC can push past $50,000 and maintain this price, we do expect this bull run to take it to near highs in the fourth quarter.
[But] if BTC keeps meeting resistance at $50,000 and cannot break through or establish support, our analysts do think that it likely will fall back to $45,000 before consolidating ahead of another push to $50,000.”
Bitcoin breached the $50,000 barrier on October 5th and is exchanging hands at $54,247 at time of writing, according to CoinGecko.
However, Wald said she cannot make an exact prediction of what BTC’s price would be if it holds support at $50,000.
“I’m not so sure [what the price could be], but I will say that I’m very excited for October, I’m definitely excited for Q4.”
Don't Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inboxFollow us on Twitter, Facebook and Telegram
Surf The Daily Hodl Mix
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/DanieleGay
