Over $5 billion short positions could be liquidated if BTC hits $113,000 ATH.
Coinbase CEO reminds Americans that crypto takes no breaks, unlike their banks.
CZ laments over joining crypto too late as Kiyosaki says it's never too late to hold crypto.
The price of BTC is slowly moving towards reclaiming its previous ATH price at the $111,970 target. Presently, the pioneer crypto asset is trading between $108,000 and $110,000, and analysts expect the asset to rally rapidly and hit a new ATH target next. If the price of BTC does perform a quick pump and set a new ATH price at the $113,000 target, then over $5 billion short positions could be liquidated instantly.
Over $5 Billion Short Positions Could Be Liquidated
The crypto community is eagerly waiting for the price of BTC to either reclaim its previous ATH target in the $111,000 price range, or shoot higher than that to start setting a string of new ATH prices. So far, several bullish analysts have set their next ATh targets for the pioneer crypto asset, with the expectations starting from $114,000 and $117,000 to as high as $137,000 by the end of Q3.
https://twitter.com/Cointelegraph/status/1941255858597322906
As we can see from the post above, the moment that the price of BTC goes to the lower ATH price target of $113,000, over $5 billion in short positions could be liquidated instantly. This could result in an even higher price pump that could take the price of BTC to the other aforementioned higher targets mentioned above. Adding to the bullish narrative are several reputed leaders of the crypto community.
Crypto Leaders Always Bullish
Starting off, Brian Armstrong, the CEO of the crypto exchange platform Coinbase, states that US banks are closed on certain days, while the crypto market, crypto platforms, and cryptocurrencies are always working to ensure that the crypto community can thrive and profit every single day. Every decision in the crypto market can lead to promising contributions to one's financially independent future.
Armstrong has always been a huge advocate for innovation in the sector. He believed that in order for crypto industries and crypto service providers to thrive, there needed to be regulatory clarity. To highlight, Armstrong has always been ready to cooperate with the SEC and the US government to ensure that the country becomes a leader in this sector. He was even ready to relocate Coinbase to Dubai if the SEC did not provide clarity for the sector.
https://twitter.com/WatcherGuru/status/1941296975359640036
Meanwhile, Binance Founder Changpeng ‘CZ’ Zhao, admits that he got into crypto too late, which was only when he saw 2011 whales casually moving crypto they got for $0.1. On the other hand, Robert Kiyosaki says to ignore those who warn of a crash or bearish sentiments when it comes to BTC. He believes that Bitcoin will hit $1 million one day and every dip is an opportunity to accumulate, meaning it's never too late to start holding crypto.
