Indeed, crypto trading expert Ali Martinez believes that the maiden digital asset could reach $27,000, provided it retains its crucial support level, according to his tweet and chart published on August 8. As the analyst stressed: In his words, should this support level hold, it could give Bitcoin “a good chance of advancing toward $27,000 as it faces little to no resistance ahead.”
Bitcoin bull vs. crude oil bear
Meanwhile, Martinez is not alone in his bullish outlook for the flagship digital asset, as Bloomberg’s senior commodities expert Mike McGlone called it “one of the best-performing assets in history” in his tweet on August 8. Comparing Bitcoin’s performance to that of crude oil, McGlone highlighted: As he explained, Bitcoin is in juxtaposition to crude oil and “well on its way to becoming digital collateral in a world that’s heading in that direction.” As things stand, Bitcoin is trading at $24,146, which is a 4.76% increase on the day, as well as a gain of 3.90% across the previous seven days, according to CoinMarketCap data retrieved by Finbold. Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
