Bitcoin has started a bullish trend again after closing the month of August at a meager trade price. September came with good news for everyone as the price went upwards towards the $10,500 resistance level bringing a wave of hope for the crypto community.
With this rise, predictions for the future price started flowing in, and the two well-known faces of the crypto community have come forward with some predictions.
Arthur Hayes, CEO of BitMEX trading platform, recently came back from his vacation, and Bitcoin greeted him with a bullish trend. In a recent Tweet, Hayes predicted that Bitcoin would reach the trade price of $20,000 in September. The way patterns in the chart are forming; we can expect a decent rise in the price of Bitcoin.
Did y’all miss me? I’m back from deepest darkest Peru, ready to cash checks. For those of you in Singapore next week for Invest Asia keep Wednesday night free. We will be two-steppin’ straight to $20k. pic.twitter.com/R0UYHinuHw
— Arthur Hayes (@CryptoHayes) September 3, 2019
Similarly, Clem Chambers, the co-founder of ADVFN, thinks that the sudden recovery of the Bitcoin price is linked to the US-China trade war. The rise of Bitcoin because of global economic issues may sound controversial, but in the past, we have seen similar trends. Bitcoin price goes up whenever some tensions are growing between two global superpowers.
Just like Hayes, Chambers also predicted that the trade conflict is an issue that will take time to resolve, and the BTC price might touch the all-time high of $20,000 by Christmas in 2019. The financial analyst also added that precious metals would also see a growth in their prices, but this might take some time.