Originally published on: November 15, 2024
Bitcoin enthusiasts can breathe a sigh of relief as MicroStrategy founder and Bitcoin advocate Michael Saylor predicts that the cryptocurrency will not fall to $60,000 anytime soon. In fact, he is confident that Bitcoin is on an upward trajectory, with the price currently hovering around $87,790.
Saylor expressed his optimism during an interview with CNBC on Nov. 14, emphasizing that he sees no immediate threats on the horizon for Bitcoin. He even mentioned planning a celebratory $100,000 party, hinting at a potential milestone before the end of the year, possibly on New Year’s Eve.
Supporting Saylor’s bullish outlook, trading expert Keith Alan believes that Bitcoin could hit $100,000 by Nov. 28 or Thanksgiving in the US. However, CryptoQuant CEO Ki Young Ju issued a caution on Nov. 9, warning that Bitcoin might close the year below $59,000 due to an overheated futures market.
Despite the varying opinions, many traders remain optimistic about Bitcoin’s future. In a recent post, popular crypto trader Ash Crypto assured followers that while volatility may persist, the overall trend for Bitcoin is upward, leading to new highs.
In addition to price speculations, Saylor also weighed in on the potential impact of Securities and Exchange Commission Chair Gary Gensler’s resignation under a Trump administration next year. Saylor believes that whoever assumes the role will play a pivotal role in shaping the future of the crypto industry in the US.
During the Cantor Crypto, Digital Assets & AI Infrastructure Conference, Saylor highlighted the significance of the US Strategic Bitcoin Reserve Bill, which aims to accumulate 1 million Bitcoin over five years. Saylor described the proposed bill as the “greatest deal of the 21st Century,” predicting substantial economic benefits if it passes.
While some industry experts like Mike Novogratz remain skeptical about the likelihood of creating a Bitcoin strategic reserve, Saylor’s bullish sentiments continue to drive optimism among Bitcoin investors and enthusiasts.
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