Franklin Peters the Ceo of leading Nigerian exchange, Bitfxt has revealed that the price of Bitcoin will hit the $70,000 mark very soon.
Speaking exclusively to FXCryptonews, Franklin remarked that the leading cryptocurrency has shown signs that it’s bullish run is set to continue.
Bitcoin’s recent rise in the past few months has been exponential with the leading coin pumping by more than 100% since the beginning of the year. This increase in value has largely been led by institutional adoption making it remarkable following years of rejection from financial institutions.
Financial juggernaults like PayPal, BNY Mellon and MassMutual have in recent months begun adding crypto services to their portfolio. While leading car manufacturer Tesla bought $1.5 billion worth of BTC in March before subsequently announcing that it would be accepting BTC as a payment method for its famous electric vehicles.
Will the Bullish Run Continue
At the moment the fundamentals point to an upward trend for Bitcoin which created an all-time high of $62,844 on March 13. Since then the leading coin has struggled to surpass its resistance point of $59,000 in recent weeks.
However, the recent bullish trend enveloping the market could extend to the leading cryptocurrency in the coming days. The next target for BTC is to break its previous all-time high before moving towards new price levels.
If that happens then Bitcoin could hit the $65k mark before the end of the week and set a fresh course for $70k. At the moment, the market sentiment is positve and time will tell whether Franklin’s prediction will occur in the coming weeks.