Arnie Hill believes that Bitcoin (BTC) could reach a total market value of $ 1 Trillion.
The leading cryptocurrency Bitcoin (BTC) has entered a significant upward trend since last Sunday, exceeding $10,000 and then $11,000 yesterday. The rise of Bitcoin also brought the market up.
Obsidian Capital’s renowned name and well-known venture capitalist Arnie Hill also expressed his thoughts on the current uptrend and said that Bitcoin could reach a total market value of $1 trillion in this bull cycle.
In an interview with the Bitcoinist source, Arnie said the current Bitcoin trend is similar to the bull run in 2017, which means a new all-time high for BTC.
“Bitcoin broke a major resistance point at the $ 9,000 level. The fact that the order books in stock exchanges are very thin proves that mutual funds and institutions have collected BTC at low prices. Bitcoin price increased by thousands of dollars in 1-2 time periods, similar to the 2017 bull run.”
Bitcoin Running a New Record?
The famous venture capitalist claims that Bitcoin could go from $ 45,000 to $ 55,000 in the next 12 to 18 months. In addition, with the Bitcoin block award half expected to take place in 2020, the total supply will drop to 18.4 million BTC, and Hill stressed that this development will lead the cryptocurrency between $ 828 billion and $ 1 trillion. For now, according to many experts, the biggest resistance to break is interpreted as $11,700.
Leading cryptocurrency Bitcoin (BTC) has gained more than 10% value in the last 24 hours with a rally since last Sunday, breaking the long-lasting $ 10,000 level. Bitcoin, who had difficulty crossing the $ 9,800 resistance line yesterday, surpassed it at midnight without any difficulty, and now stands at $ 10,800 to $ 11,000.
In the news we shared with you, we emphasized that for Bitcoin to rise above $ 14,000 or $ 16,000, it must first break the $ 11,700 level.
Ethereum Reached $300!
In addition to Bitcoin, Ethereum (ETH), the second largest cryptocurrency, has risen by 8.32% in the last 24 hours to $ 305, compared to the total market capitalization that hasn’t gone above $ 300 in a long time. Although the Ethereum bulls exceed $ 300, it may be interpreted that the altcoin season is coming, but altcoins like XRP or Litecoin do not have similar activity.
Binance Coin (BNB), one of the biggest cryptocurrency exchanges in the world, was the platform token of Binance, and broke its own record with this rally and went up to $ 38.60. Since the beginning of 2019, BNB has managed to increase its value by more than 350%.
Is It Possible for BNB $100 ?
Although Bitcoin has been stuck in the $5,200 band for the past few days, Binance’s platform token, Binance Coin, has broken the all-time record.
Binance Coin managed to rise up to 7th place in CoinMarketCap with its successful performance in the last months, and in just the last 24 hours, it bite the finger with its soaring rise. Binance Coin rose from $21.69 to $24.77 during the day, setting a new record. Binance Coin broke its all-time high record on January 12,2018, reaching $24.46.