Forbes analyst, who predicted June Bitcoin bull run sees new all-time high
He says Facebooks Libra’s performance, Walmart, and some other institution will trigger another massive bull run
Naeem Aslam, the Chief Market Analyst at ThinkMarkets and columnist at Forbes, who once predicted the June 2019 bull run stating that Bitcoin will reach $10,712 is now making a new prediction after his last price prediction came through.
The analyst said Bitcoin will now reach between $60K and $100K. Aslam, said his is not rushing to sell Bitcoin because he believed it will reach $60 to $100K.
In early June, Aslam said Bitcoin price would be pushed by the launch of Facebook’s GlobaCoin Libra. Now, the cryptocurrency analyst said the launch of Facebook Coin is the beginning of Bitcoin’s price increase, he said the likes of Amazon, Walmart among other enterprises will join in increasing the adoption of Bitcoin.
Aslam, with his belief that Bitcoin is a religion when it comes to cryptocurrency, said the likes of Facebook’s cryptocurrency are not going to negatively impact Bitcoin’s status in the cryptocurrency space. Aslam believes Bitcoin is an edge against other cryptocurrencies, and even fiat currencies.
Conversing with Asher Westropp-Evans on Cryptonomics on BlockTv , Aslam emphasized his believe in cryptocurrency as a savior, claiming that Bitcoin has a correlation with equity market.
Aslam delved into altcoins, stating that when Bitcoin surges, other cryptocurrencies will spike as well.
He said Bitcoin has recovered over 50% of its all-time high value, however, other digital currencies, like Ethereum and Ripple’s XRP have not. In other words, Aslam pointed that the momentum in Bitcoin is not the same in other coins.
The cryptocurrency analyst is sure Bitcoin could be around $16,000 or $17,000 or even above the all-time high of $20,000.
All these predictions, Aslam said depend on Libra’s performance and the number of enterprise jumping into the cryptocurrency space.
At the time of writing, Bitcoin is trading above $11000, a level it is reaching for the third time since Friday. The dominance of Bitcoin stands around 59.9%, with altcoins now following the trend.
Tron is also undergoing a massive upsurge due to its upcoming Independent Day Anniversary.
As some traders cannot link the upsurge to anything, some analysts like Aslam are of the opinion that the growth is fueled by institutional investors who are now finding cryptomarket more rewarding than their traditional investment ideas.
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