The “Wolf of All Streets,” Scott Melker, thinks that the cryptocurrency market as a whole and bitcoin are about to see a significant upswing. He said, observing “incredible froth, exuberance, and people speaking with absolute certainty about their future wealth,” that “we will likely see a huge bubble and that coins with no fundamental value will also skyrocket before it inevitably pops.”
“This Is Only the Beginning of a Major Bull Run”
In a post on the social networking site X Friday, Scott Melker, popularly known as the “Wolf of All Streets,” offered his forecast for the future of bitcoin and the larger cryptocurrency market. Melker is a well-known investor, trader, author, and host of the podcast, Wolf of All Streets. He was the North American recipient of the 2020 Binance Influencer of the Year Award.
In his writing, he expressed his belief that a significant upswing is imminent for both bitcoin and the cryptocurrency sector as a whole. Melker also mentioned:
Before it eventually bursts, I believe there will probably be a massive bubble and coins with no intrinsic worth will likewise soar.
Having said that, I’m willing to be wholly incorrect. I saw amazing foam, joy, and individuals talking about their future riches with total assurance. Every day, ten deals appear in my inbox; the most of them will undoubtedly fall through. I usually pause when I see this,” he added.
Last week, the price of bitcoin surged and surpassed its peak. Many people think that the impending halving event and the enormous demand for spot bitcoin exchange-traded funds (ETFs) are what are driving the current bitcoin bull cycle. Since they started trading in early January, the top 10 bitcoin ETFs have consistently broken records for inflows and trading volume.
Numerous prominent figures within the cryptocurrency realm have expressed optimism on the anticipated value of bitcoin. BTC may surpass $200K this year, according to Bitwise’s CIO, because of “too much demand and not enough supply.” The CEO of Galaxy Digital expects a “tremendous global demand for bitcoin.” Expert trader Peter Brandt raised his price target for bitcoin in the current bull market lately. He notices a “starting” candle as well.
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