While Bitcoin is trading comfortably with new support levels, bullish-minded analysts suggest the cryptocurrency will soon set new records.
The big bang is coming soon
Vailshire Capital Management believes that another big Bitcoin boom can be expected as Bitcoin’s performance is trending upwards.
The firm’s CEO and founder, Jeff Ross, tweeted his point of view on the token and pointed out that the technical trading aspect of Bitcoin looks like a “wild boom” from the macro view and the chain aspect of things.
According to the CEO, Bitcoin performance looks like short-term trading will face strong trading with possible correction drops in the market.
When we look at Ross’s view, BTC’s move is in line. Bitcoin is trading just below the trade record high of $ 40,000 but in a healthy range. At the same time, investment management firm Grayscale bought a massive $ 700 million Bitcoin.
Analysts on the rise on Bitcoin
The CEO of the management firm is not the only one to offer optimistic views about the future business of Bitcoin. Quantities analyst and well-known Bitcoin bull PlanB suggested that Bitcoin could surpass the “point of no return” against the US dollar.
His comments come with an update to the stock flow theory. PlanB believes Bitcoin will surpass $ 48,000 this month as the leading cryptocurrency shifts to new trading volumes. If the institutions continue to buy at the same rate, it is possible for an increase forecast to come true.