The recent times could be said to have brought the entire crypto industry back to the land after getting caught in the middle of the sea during a storm! Yes, after the tragic market crash, there has been a constant momentum on the rise, be it Bitcoin (BTC) or the altcoins. In spite of this, the much-adored crypto maniac, investor, and advisor, Scott Melker, also known as ‘The Wolf of All Streets’ has put forth his revelations and predictions upon the king of the cryptocurrencies, the Bitcoin (BTC).
Scott Melker’s Prediction
Scott Melker, profuse crypto analyst, investor, and advisor predicts that Bitcoin (BTC) will be soon reaching its highest ever within this year. However, this is a known fact as it’s obvious that BTC reaches newer heights every year, setting up a new bench-mark every time.
In spite of this, Scott Melker depicts that very soon BTC will be surpassing $100,000 along with Ethereum (ETH) to about $10,000. In addition, the analysts say that all this will happen within a time period of a maximum of 6 months to 12 months.
Moreover, Melker puts forth that the recent bill passed upon the infrastructure for about $1.2 trillion has provoked many and still will to invest upon BTC. Also, he terms that this passing of the infrastructure bill ought to be the biggest way of promoting BTC indirectly.
On the other hand Melker’s terms, times have changed with more and more judiciary people coming forward in support of the cryptocurrency industry. Furthermore, he speculates that all such massive support towards the market has instigated many to invest in BTC and not to sell or trade it.
However, Melker predicts that the infrastructure bill has not yet passed by the House of Representatives. In addition, he states it will take nearly 2 more years for the bill to pass.
On the other hand, this period of 2 years could be used actively by the crypto industry, traders and investors. Besides, it’s a known fact that the cryptocurrency attribute alone halted the infrastructure bill for nearly 3 days from passing.
The Other Reason for BTCs ATH
Scott Melker states the next major factor promoting BTC as well as the crypto market is the ‘Exchange Traded Fund’ (ETF). In spite of this, Melker terms if the ETF gets approved by the U.S Securities Exchange Commision (SEC), it would be a remarkable moment in the entire BTC history ever.
With the ETH in action, nearly all sorts of long-term and mid-long term investments would be on the rise with all in the form of cryptos. Moreover, he terms very soon the entire BTC sector will be regulated and all legal terms, and be accepted officially as a regulated asset. Furthermore, Melker predicts in the long run BTC will for sure surpass its 6 digit target moving on to 7 digits! And the Ethereum (ETH) will be taking the present place of BTC to about $30K.