Bitcoin Halving Impact Fades as Demand Takes Center Stage
According to reports, the Open Interest in Bitcoin is now 30 times higher than it was 11 days before the 2020 Bitcoin halving.
Bitcoin bull and crypto analyst PlanB has released his latest prediction on the future of the token – offering that he thinks it could be heading to a whopping $450, 000 USD by the end of this year.
Known for his stock-to-flow Bitcoin model to predict the future of the token’s price movements, PlanB has continued to say that the trajectory of the cryptocurrency is positive. Despite Bitcoin’s latest crash and its subsequent struggle to regain any strength, the analyst maintains a bright outlook on where Bitcoin’s going. In his latest published estimation, he has suggested that Bitcoin will hit $135, 000 USD by December in a “worst case scenario” situation:
Bitcoin is below $34K, triggered by Elon Musk’s energy FUD and China’s mining crack down.
There is also a more fundamental reason that we see weakness in June, and possibly July. My worst case scenario for 2021 (price/on-chain based): Aug>47K, Sep>43K, Oct>63K, Nov>98K, Dec>135K pic.twitter.com/hDONOVgxH1
— PlanB (@100trillionUSD) June 20, 2021
In response to a comment on his bullish ‘worst-case’ estimations he hinted at what his “best case” predictions are for Bitcoin:
Wait until you seen my base case and best case scenarios! OK, a hint: best case Dec $450K 😎
— PlanB (@100trillionUSD) June 20, 2021
Bearish predictions from Rich Dad, Poor Dad author
Meanwhile, another Bitcoin bull Robert Kiyosaki, author of Rich Dad, Poor Dad, has taken a bearish approach to the cryptocurrency’s short-term trading. He foresees Bitcoin falling even further than it has in the past two months – and has suggested to investors to short the crypto scene and look to gold and silver instead:
Biggest bubble in world history getting bigger. Biggest crash in world history coming. Buying more gold and silver. Waiting for Bitcoin to drop to $24 k. Crashes best time to get rich. Take care.
— therealkiyosaki (@theRealKiyosaki) June 19, 2021
As it stands, Bitcoin price now is holding just above $35,000 USD – and has been holding above $31,000 USD in the past thirty days. Whether it will see a massive spike or significant drop in the next few weeks remains to be seen.