Three Arrows Capital CEO Su Zhu stated that Bitcoin price is ready to reach $88,000 in less than two months
With the current state of BTC, Three Arrows Capital co-founder and CEO Su Zhu has hinted about the status of Bitcoin price soon. According to him, high probability soon, BTC will rise to $88,888.
— Zhu Su ? (@zhusu) August 22, 2021
Crypto billionaire expects Bitcoin price to soar to $88,000 in less than two months
Zhu then stated that the leading cryptocurrency would achieve the goal mentioned earlier in less than two months. This comes after fellow co-founder Kyle Davies tweeted that Bitcoin looked like it wanted to supercycle right through all-time highs.
According to an interview with UpOnly, when it comes to long-term price predictions, Zhu said that Bitcoin hitting $2.5 million would be possible in the future if it were to chip away at gold’s market share as the leading store of value.
“So then you’re already halfway there to $100 trillion, and that will get you to $2.5 million per BTC, and I think that that is possible”, Zhu stated.
Three Arrows Capital has invested in Bitcoin, Ethereum, Dogecoin, Avalanche, and a slew of DeFi protocols (Aave, Balancer, SushiSwap, among others) and cryptocurrency companies such (BlockFi, Deribit among others).
On August 21, Bitcoin hit a three-month high of $49,830 on the Bitstamp exchange, with bulls now back in the driver’s seat.
As previously reported by AZCoin News, the Fear & Greed index will cause the market to correct.
Crypto Fear & Greed Index as of August 22 | Source: Alternative.me
The Bitcoin Fear and Greed Index estimates the general feelings regarding the primary cryptocurrency by following several aspects. Consequently, the index was deep in a state of extreme fear with a low of 10 for numerous weeks after BTC started its USD descend in mid-May. However, the situation began to change after BTC bounced from its latest sub-$30,000 adventure. The index went into a state of Greed at and above 50 for a while. However, it has jumped into “Extreme Greed” once more now at 76.
Still, the index is far from its peak level of 95 that was reached in February.
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