There is no doubting that mood in surrounding Bitcoin and cryptocurrencies has lightened this month as markets finally moved off the bottom. Many analysts predicted a final capitulation down to $2,500 or lower but that seems like a distant memory now. Price predictions now are of a more positive nature and some see Bitcoin getting back to $10,000 sooner rather than later.
Finance Guru Extremely Bullish
According to CEO of stocks and investment website ADVFN, Clem Chambers, the crypto winter is over and Bitcoin could hit $6,000 soon and go on to $10,000 this year. Speaking to Forbes Chambers attributes this to greater interest coming from China due to a possible Yuan dollar depreciation. The recent Tether premium is a prime example of how demand can drive up the prices of even stablecoins.
“Money flowing into stablecoins is going to lift bitcoin because fundamentally money flowing into crypto is what sustains and raises prices,” he added.
Explaining that crypto assets need an…
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