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Dan Held, the director of growth marketing at crypto exchange Kraken, says that Bitcoin could surge by over 500% if BTC follows the cycle of its 2013 bull run.
In a new interview on Altcoin Daily, Held compares the current state of the cryptocurrency market to what happened in 2013. He also shares his price prediction based on Bitcoin potentially mimicking its 2013 cycle.
âIf we repeat 2013, we could see Bitcoin hitting between $300,000-$400,000 Bitcoin. Now. history usually rhymes, it doesnât repeat itself, so itâs probably not going to be exactly that, but if it did, that would be my best price point.
So my price point, I would say that I think itâs going to land probably between [$100,000 and $300,000]. But if we match 2013 again, it could be [$300,000 to $400,000].â
In other trending Bitcoin News today: Bitcoin bullish cross on weekly chart paints $225K BTC price target if history repeats!
The weekly MACD delivered six-month gains of 450% the last time it flipped into bullish territory.
The last time that a bullish crossover occurred, BTC/USD saw a 5.5X price increase â from $11,500 in October 2020 to all-time highs of $64,500 just six months later.
Should history repeat itself, Bitcoin could end up at over $220,000 by the end of the year or in early 2022.
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DISCLAIMER: This is NOT financial advice. The views and opinions expressed in this video are just opinions, nothing more. Trading is very risky, especially when trading with leverage. Seek financial advice from a professional and trade at your own risk because I am not responsible for any investment decisions that you choose to make.
Show Notes / Resources:
https://cointelegraph.com/news/here-s-what-traders-expect-now-that-bitcoin-price-rallied-back-to-50k
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Toncoin Plummets and Rebounds Amid Pavel Durov’s Arrest and Release
The cryptocurrency market witnessed significant turbulence last week following the arrest and subsequent release of Pavel Durov, the CEO of Telegram. Toncoin (TON), the cryptocurrency associated with Telegram, experienced dramatic price fluctuations in response to these events.
On August 24, 2024, Durov was arrested by French authorities at Le Bourget airport near Paris, facing charges related to data privacy and cryptocurrency regulation violations. The news of his arrest led to a sharp decline in Toncoin’s price, plummeting by approximately 25% to $5.24 as panic selling ensued among investors. This sudden drop highlighted the market’s sensitivity to legal issues involving key figures in the cryptocurrency space.
However, the situation took another turn when Durov was released on bail on August 29, 2024. The court set his bail at $5.56 million, and the news of his release provided a much-needed boost to Toncoin’s price. Following the announcement, Toncoin rebounded by over 6%, climbing to $5.59. This recovery, although partial, indicated a renewed confidence among investors, albeit tempered by ongoing uncertainties.
The arrest and release of Durov have underscored the volatility inherent in the cryptocurrency market, particularly for assets closely tied to influential individuals. While the immediate impact on Toncoin’s price was significant, the long-term effects will depend on the resolution of the legal issues facing Durov and the broader regulatory environment for cryptocurrencies.
As the market continues to react to these developments, investors are advised to remain cautious and stay informed about potential risks. The case of Toncoin serves as a reminder of the complexities and uncertainties that can influence the value of digital assets.
