Chris Kline, co-founder and COO at Bitcoin IRA, identifies signs that cause him to predict that the Bitcoin price will reach USD $40,000.
Bitcoin’s (BTC) $6461.50 -0.16% sustained steady rise towards the USD $7,000 price mark is causing investors to pore over data trying to identify indicators that can confirm whether the bearish trend is now reversing course.
In a Forbes article, Chris Kline identifies these Bitcoin bullish signs and predicts that “the price may well surpass $40,000 by the end of 2019 and could continue to climb as we enter 2020.”
Kline’s predictions are in line with those of billionaire investor Marc Lasry, who also forecasts that the Bitcoin price will reach USD $40,000 in a few years as the cryptocurrency continues to show signs of becoming more mainstream and more accessible to trade.
Kline’s optimism is based on the belief that the regulatory uncertainty affecting the crypto market is being resolved, and that the SEC will approve a Bitcoin Exchange Traded Fund (ETF) soon.