Bitcoin eyes a fresh attempt to breach USD 7,000 after yesterday’s rejection
Binance boss Changpeng Zhao believes USD 100,000 Bitcoin is no longer implausible after USA approves trillion-dollar stimulus package
Vitalik Buterin admits the lack of a Bitcoin-Ether bridge is embarrassing and has backed the development of one
Bitcoin attempted to break past USD 7,000 yesterday, just as we wrote, but experienced an immediate bounce back from that level just hours ago when sell orders triggered, probably brought on by Europe time profit taking as well, but also likely a further reaction from a stimulus package announced by the US government to tackle the impending coronavirus pandemic slowdown.
Currently, Bitcoin has recovered and is trading closer to USD 6,700 levels again right now and does look like it could attempt another test of USD 7,000 today, but there’s plenty left to see what will happen and where price will go.
Regardless of price, we have plenty of good news to report elsewhere in the industry. We begin first with Binance CEO Changpeng Zhao who, in the wake of trillions of dollars worth of stimulus announced for the American economy, says that now, Bitcoin valuation at USD 100,000 does not seem implausible.
As we get used to talk about Trillions, a modest $2 trillion market cap of #bitcoin will put 1 BTC at $100,000. Not such a hard to imagine number now, right?
As most BTC are not for sell (HODLers), we only need a small portion of that $2t to buy to reach it.
— CZ Binance