Since BTC fell after Christmas Eve’s “Santa Claus” rally, leading other crypto assets down with it, this market has struggled to post significant gains (or losses for that matter). Some have blamed the non-action on the holiday season, while others chalked up the week-long respite to the unpredictability of this industry. So, when Sunday’s surge finally came to fruition, a number of this industry’s leading participants were caught aback, but in a somewhat positive light.
Changpeng “CZ” Zhao, the industry golden child behind Binance, noted that his “wish finally came true,” as volatility actually pushed cryptocurrency higher. Zhao’s innocuous comment comes after market volatility pushed down BTC by upwards of 40% in the past two months. The Binance chief didn’t give any solid predictions, but considering the set of comments CZ conveyed to Bloomberg, it is likely he’s still optimistic for this nascent sector.
The so-called “Crypto Dog,” a leading analyst that sports over 100,000 followers on his Twitter account, explained that there’s a chance this move isn’t “incredibly bullish” for BTC just yet. However, the preeminent analyst explained that all things considered, “alt setups” have been making him feel “more and more bullish [overall].” And when altcoins run, so does Bitcoin.
There’s been no conclusive move to be incredibly bullish on $BTC just yet, but the $ALT set ups have me starting to feel more and more bullish.
Bitlord, an Australian crypto commentator and media personality, echoed the sentiment that “altcoins,” namely Ethereum, Litecoin, and Tron, have been interesting to watch, especially in terms of their correlation with BTC.
Considering the jaw-dropping performance posted by the aforementioned crypto assets, Bitlord noted that he fully expects for Bitcoin to break higher in the days to come, adding that he put his money where his mouth is, so to speak. Like his fellow commentators, Bitlord didn’t provide a concrete price target.
Trader Tommy Mustache took this opportune surge to claim that BTC is unlikely to fall below $3,000, as once stipulated by Morgan Creek Digital Assets founder Anthony Pompliano, who infamously claimed that lower lows are inbound.
Many analyst keeps on calling for Bitcoin sub $3k. IMO I just don’t see it.
85% down from ATH is the magic floor number through numerous bubble pops in the past.
$3,180 on Dec 14th is 84% down from ATH. That was probably the low.