Bitcoin Price $30,000? Willy Woo, CEO of Binance, PlanB, Balaji Bullish
Bitcoin price rallied massively, hitting a 9-month high of $27,787 as it breaks sharply above the key 200-WMA at $25.3K. Bitcoin and Ethereum prices soared after the US Federal Reserve started money printing with an initial $300 billion in funding to bail out cash-strapped banks since the collapse of Silicon Valley Bank and Signature Bank.
Crypto leaders and influencers including Binance CEO “CZ”, Bitcoin analyst Willy Woo, stock-to-flow model creator PlanB, former Coinbase CTO Balaji Srinivasan and others are confident that the Bitcoin price will reach $30,000.
Binance CEO “CZ” took took to Twitter to share the good news that Bitcoin surged past $27K, mocking US banks and appreciating crypto holders who held amid FUD due to recent events. He is bullish on Bitcoin when the banks are falling apart.
“Bitcoin is volatile, but it never needed a bailout. Holding crypto is tough. It wasn’t easy for the people who held on for the last few months.”
Popular Bitcoin analyst Willy Woo also took to Twitter to share his favorite on-chain indicators for Bitcoin. He recommends buying when the BTC price is between the realized price and the cumulative value days destroyed (CVDD) floor. Investors should also buy more when the price moves past the purple line.
Bitcoin stock-to-flow model creator PlanB revealed which returned to the dark blue area of the stock-to-flow valuation model. He believes that Triple Top for a new ATH in the current cycle is possible as the Bitcoin Halving is coming.
Bitcoin price to hold above 200-WMA
Meanwhile, former Coinbase CTO Balaji Srinivasan predicts bank failures and money printing will cause the Bitcoin price to reach $1 million within 90 days. On Friday, he made a bet with James Medlock, a self-proclaimed social democrat, that the United States is entering hyperinflation. Balaji Srinivasan is clear to transfer $1 million in USDC for the effort to either a smart contract or a blocked individual.
Bitcoin price is currently holding above the 200-WMA, as reported earlier by Coingape. The BTC price is currently trading at $27,587. The 24-hour low and high are $26,209 and $27,787. Bitcoin will face resistance in the $28.5K-29K range, it will cross the mark if the US Fed FOMC rate hike decision comes through.
Also Read: Solana Mobile tips Saga Smartphone launch date