© Reuters. Tyler Winklevoss projects $30,000 in bitcoin before the end of the weekend
- Tyler Winklevoss believes the price will reach $30,000 in the next couple of days.
- Respondents believe that Bitcoin will exceed Winklevoss’ expectations.
- One optimistic respondent expects bitcoin to reach $100,000 by the end of March.
Gemini co-founder Tyler Winklevoss believes bitcoin will reach $30,000 before the end of the weekend. Winklevoss’ prediction comes after the major cryptocurrency crossed a yearly high of $26,533, which it achieved in the wake of regulators’ response to the ongoing banking crisis in the United States.
30,000 BTC by the end of the weekend?
— Tyler Winklevoss (@tyler) March 17, 2023
Many of the respondents who tweeted after Winklevoss thought he was too conservative with his predictions, with some explicitly asking him to “think bigger.”
Bitcoin has resumed its rally after a three-week decline, after starting the year on a high note. After rising from below $16,000 to $25,270, the price changed direction with a consolidation of 22.65% extending to the first days of March 2023.
Volatility returned to the market after reports of the failure of Silicon Valley Bank and Silvergate Bank overwhelmed the US financial sector. The panic-injected saw investors looking for alternative vehicles, and Bitcoin, along with the entire cryptocurrency market, seemed like a safe place.
Funds flowing into the Bitcoin market saw the price surge from a local low of $19,569, cross the initial yearly high, and trade above $27,000 within one week. Bitcoin price is up 41.98% in the current rally, with bullish momentum remaining strong as the bulls continue to push for higher levels.
Bitcoin’s price rally coincides with several predictions from the beginning of the year that suggested the end of a prolonged bear market that saw Bitcoin’s market cap drop below $1 trillion at the end of 2022. Many users believe that the current move will see Bitcoin soar to higher levels. In preparation for the next halving event scheduled for March 2024.
Winklevoss’ prediction seems a more realistic goal than one from a respondent who predicted Bitcoin would reach $100,000 by the end of March.
Tyler Winklevoss’s post-$30K Bitcoin project just before the end of the weekend made its Coin Edition debut.