“Bitcoin has tested the $50,000 price mark a few times now, and if the positive momentum continues to support the price action, we are looking at a strong weekend for cryptos.”– Paul Ebeling
Bitcoin’s price is up Friday morning and has managed to hold above a Key mark at $50,000 as analysts predict cryptocurrencies are going to soar in Q-4 Y 2021.
At the time of writing, bitcoin (BTCUSD) was up 1.2% to trade at $55,224. Ethereum (ETHUSD), the world’s 2nd largest crypto by market cap, was up 0.5% to trade at $3,600.
This comes amid reassuring statements from the US that they will not come down hard on cryptos.
The founder of Zap Protocol, said: “Bitcoin, ethereum and the broader crypto market are likely to have a ludicrously strong fourth quarter, and I predict we will see new all-time highs across the board by 2022.“
He said the 2 major cryptos are already approaching their all-time highs and predicts bitcoin will breach the $100,000 mark as early as year-end, while ethereum will hit $10,000 – 12,000.
The market has demonstrated itself to be increasingly resilient to adverse market developments, such as China clamping down on crypto or Tesla’s Elon Musk backtracking on his pro-crypto stance.
The CEO and founder of financial advisory organization deVere Group, said: “I’m confident that if the current momentum in prices continues, we could see the bitcoin price hit to-date unknown highs of $100,000.”
HeffCap’s War Room General Shayne Heffernan, PhD, predicted Bitcoin at $100-K many months ago, way ahead of the pack and he sees GBITS at $200.each near term. GBITS is currently trading at $174.71, after marking 197.279 earlier.
As for Ethereum: It is highly likely that the price may test the 4-K price mark, and that may open the way for the price to retest its all-time high, which matters the most.
Have a prosperous day, Keep the Faith!