Disregarding the nature of the phenomenon, BTC bears are most probably looking at what will become a price skyrocket.
Boris Schlossberg of BK Asset Management has suggested that BTC’s outbreak fro
m the 7,000 USD area could potentially signify some additional surge potential. Schlossberg, being a BTC bear for quite some time himself, has pointed out that the technical research had the bigger part in the play in comparison to the fundamental research.
As of now, Schlossberg believes that the world’s most popular digital currency might surpass the 8,000 USD mark. Nevertheless, he alerts that this is the point where all the significant resistance will appear in the event that the price hits that level.
Apart from the technical impetuses and other incentives when talking about causing Bitcoin’s surge success, Schlossberg mentioned the findings that BlackRock, the largest asset handler on the globe, was entertaining the possibility of financing BTC futures. Moreover, the asset handling company was researching digital currencies overall, including blockchain technologies.
Another incentive brought by the mainstream Wall Street was represented by Steve Cohen, who is a hedge funder that has lately unveiled financing the digital currency hedge fund. According to Schlossberg, BTC could also experience subsequent appreciation in the event that blockchain technology adoption, exercised by the mainstream sector of finance, experiences growth, as it would become able to assist the reinforcement of the so-called virtual gold reputation for the Bitcoin.