Last weekend, Bitcoin (BTC) surprised investors when it broke the $ 10,000 mark, kicking off the current rally. BTC did it again this weekend, but this time its price has dropped from $ 12,000 to just $ 10,800, and $ 1 billion has emerged from the market.
Despite an uncertain start on Sunday that surprised investors, cryptocurrency veteran Max Keizer once again expressed his bullish sentiment towards BTC, claiming that Bitcoin will soon reach $ 28,000.
Keizer, which is one of the first cryptocurrency investors, ensures that Bitcoin’s previous $ 20,000 ATH will not be a drag on the current raid. Kaiser wrote on Twitter:
“The $ 20,000 level will not be a drag for Bitcoin. We will see no resistance to $ 28,000. A brief pullback and then the $ 100,000 attack begins with renewed vigor. “
The last two weeks have been positive for BTC as it has managed to rise from $ 9,200 to $ 12,000 and hit its highest level in 2020. Both Bitcoin and Ethereum show a strong momentum that the entire market is benefiting from.
Keizer is known to be optimistic about the oldest cryptocurrency. It first predicted $ 28,000 at the end of July, when BTC exceeded $ 11,000. He believes the price of bitcoin will likely be six figures soon.
“$ 28,000 is in the game before we see the pullback – and then we go down to 6 digits.”
Another investor called Pierre also expressed a similar opinion, stating that if BTC returned to $ 11,500 over the weekly and monthly timeframes, the path to his $ 20,000 ATH would have had little resistance.
Scott Mike, commonly known as “The Wolf of All Streets,” said he expected this withdrawal as there were many bearish variations prior to the crash.
There were bear divs everywhere, as I mentioned.
– The Wolf Of All Streets (@scottmelker) August 2, 2020
Bitcoin can go both ways
Amsterdam-based stock investor Michael Von Poppe has previously argued that Bitcoin entered the new $ 9,700 to $ 12,000 range after breaking resistance at $ 10,500.
Now, he expects BTC to set a similar range and gently flips its price both ways over a period of several weeks. He also expects altcoins to benefit from this situation.
“We will most likely have volatility on $ BTC and $ ETH when they determine their range. But over time (week or two) it will start to decrease. What do you have to do? Yes, buy altcoins. While everyone is focused on $ BTC, you should focus on alters. “
The overall market sentiment still remains bullish as most assets slowly recover after a retreat, with some of them making substantial gains.
At the time of writing, BTC’s price is $ 11,150 and overall market dominance is back to 60%.