At the time of writing this article, BTC is trading at $20,450, which is an increase of over six percent over the past seven days, according to data published by Coingecko on Monday. On the weekly chart, the BTC price is almost on the way to its biggest increase since March, but anything could still happen until the close, according to analysts.
The BTC price offers an interesting picture that could help swing traders and long-term investors make strategic decisions. A reset, followed by a re-rise from an important area, could trigger an upward push in BTC.
Sharma believes that the decline will continue in the foreseeable future, despite its optimistic prospects for the leading cryptocurrency. He joins a number of well-known personalities who are optimistic about the growth of Bitcoin.
The crypto supporter spoke in favor of a monetary system independent of the US dollar. According to him, there is currently no currency that can replace the dollar, but in the future Bitcoin could be a major competitor in the broader financial markets.
In a previous article, Sharma warned that governments will fail in controlling cryptocurrencies. He claimed that one of the government’s strategies to regulate cryptocurrencies is massive money creation, a policy that is unsustainable.
