Bullish Momentum for Bitcoin Price? BlackRock Claims Whale BTC Holding!

1 year ago 89
Blackrock CEO Lary Fink

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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.

“Bitcoin is set to rephrase the financial landscape!”

– Larry Fink BlackRock’s CEO

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.

$BTC is once again Attempting a Breakout, and I have a feeling it might succeed this time.

If the Breakout is Successful, we could see a 15-20% Bullish Rally in the coming days.

However, if the Breakout fails, #Bitcoin could test the 25.6k support once again. https://t.co/bouWZRiI1h pic.twitter.com/WJvsoZjMtX

— Captain Faibik (@CryptoFaibik) October 16, 2023

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.

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