After experiencing a massive price plunge in the crypto industry during the last week, The market leader, Bitcoin price, has displayed a bullish move as the star crypto has gained 3.62% within the last day. BTC is currently hovering close to its crucial resistance level of $28,000 and is expected to surpass it soon.
BlackRock’s CEO Claim On Bitcoin:
Larry Fink, the CEO of the largest money management firm in the world, with over $10 Trillion in assets under management, claims that Bitcoin is on the path to rephrase the financial landscape forever.
Further, he states that the role of Bitcoin and crypto is to “digitalize gold” instead of investing in gold as a hedge against inflation.
Larry believes in tokenizing assets and securities to reduce money laundering and build a more stable economy. BlackRock may already be the third-largest BTC holder, with a total holding of over 100,000 Bitcoins.
Captain Faibik’s Prediction On Bitcoin Price:
Captain Faibik, a well-known crypto analyst with a substantial following of 66K+ on the X platform, predicts the BTC price is again attempting to break out of its resistance trendline of the symmetric pattern.
Further, the analyst predicts the Bitcoin price will experience a jump of over 15–20% if it successfully manages to break out of the pattern soon. If the coin gains bullish momentum, BTC will test the $30,000 mark in the coming days.
Will The BTC Price Cross $28,000 Mark Soon?
In conclusion, the BTC price has displayed massive and much-needed bullish action over the weekend, which the market had assumed to be lost, further creating a possibility of the month of October, also known as Uptober to end with a bullish sentiment.
At the time of publishing, Bitcoin was trading at $27,825 and is predicted to test its resistance level of $28,000 today, which could result in the either way. If the coin breaches the resistance level, the price will continue to gain value and test its resistance level of $28,600 soon.
If the coin fails to break out of the resistance level, the analyst predicts the price could lose momentum and plunge toward its support zone at $25,600 again.