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Bitcoin prices surge as hopes of 100K BTC by the end of 2021 soars

Loopring recently received its post-mortem announcement from Gamestop about their NFT marketplace, bringing the dead currency from 6 feet under to 60% above.

Following this rather unexpected announcement, now Bitcoin seems to be wanting a piece of the pie as well. It has surged more than 25% since late last month; giving hope to many small-time cryptocurrency owners that there still may be a chance that it reaches 100K by the end of 2021.

Many investors have taken to the r/cryptocurrency community of Reddit, the social media platform, to express their feelings:

“Finally, 100K bitcoin 🥲

“EOY 2021 100K bitcoin back on the table?”

“The suicide hotline operators can finally go on a break”

It was clear that emotions were running high, and there were many tears of happiness

But many users warned that the advice given on the close-knit community were not ones to follow.

“Do not follow this subreddit. The market does the exact opposite that of the current sentiments of this place”

Others responded to this by calling them out for FUD, a term that stands for fear, uncertainty, and doubt.

“Mods please do your duty and remove such disgusting FUD!”

What do the experts say?

One expert redditor explains as follows:

"It is clear that Bitcoin is receiving a lot of positivity in the news, which through upside-down retracement levels demonstrate that it must go up. If it doesn't, then it will go down."

As seen in the expert chart above, the colour is in green, indicating that the famous cryptocurrency is steadily rising.

What should you expect?

Our data scientists here at Cryptic Investor have done their own on-chain analysis using LTSM Neural Networks (link opens new window). While the findings of their analyses span many pages long, in short they have told us that if the charts increase, we will be in profit, else Bitcoin will fall and we will be in loss.

Have any thoughts? Leave a comment below!


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