Aleks Svetski, co-founder and CEO of Bitcoin Investment Application (BTC) Amber, said the cryptocurrency is on track to reach $20,000.
In particular, in an email exchange with Cointelegraph’s editorial staff, Svetski commented:
„It’s only a matter of time. A perfect storm is forming, all this pressure will have to go somewhere. With Bitcoin, the offer is fixed and its utility of non-inflationary and incorruptible currency is increasing day by day. And soon the price will rise too.“
Svetski: I hope BTC’s price stays low for as long as possible.
We are almost halfway through the year: if you look at the past months, you can see how unstable the pandemic has made the price of cryptocurrency unstable. The asset has in fact reached a minimum of $3,800 and a maximum of $10,300, with continuous fluctuations between these two values.
What will be the conditions necessary for in recent days, what honeyminer runs, as previously reported, its late-october launch, a 7-month low, partnering with airtm exchange, bitcoin, uncertainty and the ultimate narrative, bails on blockchain, corda enterprise platform, crypto space commander to return to $20,000? „Time and a bullish push,“ Svetski commented. However, he would prefer if BTC stayed at current levels for some time before starting its climb.
„For my part, I hope it stays low for a long enough period,“ so investors would have more time to buy additional BTCs at discounted prices.
Bitcoin at $20,000? There will be a lot of FOMO among traders
What happens when Bitcoin goes back to $20,000? According to Svetski, investors will begin to appear cryptocurrency in panic, for fear of missing an unrepeatable opportunity:
„First there will be a lot of disbelief, followed by FOMO.“
Once the $20,000 barrier is crossed, Bitcoin will attract the attention of the general public. Economists and traditional finance traders will warn investors, saying that the price could collapse at any moment:
„Initially, traditional finance traders will be hesitant, but the price of Bitcoin will continue to rise. $25,000, $30,000, $40,000… their disbelief will turn into FOMO, we will see prices accelerate.“