Few of the analysts are anticipating Bitcoin prices to reach a 6 figure in 2021 even though recently the market is in panic. However, Bitcoin price is constantly trying to reach $100,000 within this year.
The recent decline in prices indicates a price action that is unchanged. This conclusion has been reached by one of the best-known investors of the industry amid the Bitcoin price recovery from a low of almost $46,000.
Bitcoin Has A Buy Signal
Dan Tapiero, a fund manager, had tweeted on 27th April stating that he received numerous concerning messages from clients while BTC experienced a price dip. On the other hand, he informed, that there was no need for panicking.
Tapiero further added that there was a very technical buy signal for the first time since the 2020 March crash to a low $3,600. As a result, he gave positive hope to the people who were worried about the prices of BTC in 2021.
In addition, he also tweeted that investors must Hodl for long.
Portnoy thought that Musk had sold many of his holdings but Musk tweeted denying any such activities. He also informed that Tesla had to sell 10% of their holdings mainly due to the reason that BTC was an alternative for cash in their balance sheet.
Consequently with the ‘Elon candle’ BTC successfully managed to reach close to $55,000, indicating a 10% gain after the weekend. As of now, BTC is gradually and healthily recovering from the dip.