We Could “Wake Up to Bitcoin $200,000” and BlockDAG Network $100 Mil: A Maximalists Analysis
The post We Could “Wake Up to Bitcoin $200,000” and BlockDAG Network $100 Mil: A Maximalists Analysis appeared on BitcoinEthereumNews.com.
Bitcoin’s second dip below $67,000 this week triggered a frenzy of buying, marking the second-largest surge in crowd interest over the past two months. This buying spree raises the question: Was it driven by FOMO (fear of missing out), bargain-hunting, or a combination of both? Analysts and Bitcoin maximalists predict an imminent surge. Imagine waking up one morning to find that Bitcoin has surged to $200,000, and the BlockDAG Network, a rapidly rising star in the cryptocurrency universe, has skyrocketed to $100 Mil after having raised $50 in just 6 months of pre-seed funding. This is not just a fantasy but a tantalizing possibility according to leading analysts. The cryptocurrency world is known for its volatility and dramatic price movements, and these projections underscore the immense potential and exciting future that lie ahead. Bitcoin to $200K? Bitcoin’s journey has been nothing short of spectacular, from its humble beginnings to becoming the powerhouse of digital currencies. According to data from blockchain analysis platform Santiment, Bitcoin’s price falling below $67,000 resulted in a significant increase in market greed. Santiment highlighted that Bitcoin’s drop below this threshold on Thursday led to the second-largest spike in crowd BTC buying interest in two months. Greed and FOMO typically arise under two conditions: when prices erupt and traders rush in hoping for continued climbs, as seen on May 20th, or when prices dip and traders buy in anticipation of a quick recovery, as occurred on June 13th. Samson Mow, Bitcoin maximalist and CEO of Bitcoin adoption-oriented company Jan3 tweeted that the chances of Bitcoin printing a giant Omega candle on the charts have drastically increased. Mow suggests that the absence of significant “Godzilla” candles (large price surges) makes the occurrence of “Omega” candles (even larger price surges) more likely, given the current compression of the Bitcoin…
Filed under: News - @ June 23, 2024 5:26 am