Bitcoin Could See $6,000 Soon, $10,000 By Year’s End
Bitcoin (BTC) bullish momentum has slowed, but analysts across the board are still cheery about the cryptocurrency. In a recent Forbes contributor post, Clem Chambers, the chief executive of ADVFN and a finance author, explained why he believes that crypto winter is over and that Bitcoin could rally as a result.
He explains that the recent issuance increase in Tether (USDT), among other stablecoins, is what is “going to lift BTC,” looking to the fact that fundamentally, money “flowing into crypto is what sustains and raises prices.” As Chambers explains, for the current inflationary Bitcoin to have a positive money flow, new fiat has to enter in every day to “match new supply” and to ensure that a crash doesn’t ensue. With USDT supply recently increasing, and there being clear signs that “dry powder” is being unloaded into the cryptosphere, Chambers concluded that there is a “clear pathway upwards” for BTC. The increase in…
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