Bitcoin soared to a new all-time high on December 30, and respected analyst Max Keiser has now raised his short-term price target from $28,000 $35,000.

After briefly falling as low as $25,830 in the previous 24 hours, it surged to $28,948 at the time of publication, according to CoinMarketCap, an increase of 7.5%, and showed no sign of losing steam as it headed toward the psychologically important $30,000 mark.

Keiser, who makes bitcoin predictions based on its hash-rate, which is the amount of computing power that is being devoted to mining, said it will hit $35,000 on the short term due to hash-rate adjustments.

He tweeted, “$28,000 target (from 2 yrs ago) hit. Next short-term target is my hashrate-adjusted price of $35,000 (made last year when BTC hashrate was hitting new ATH)”

Another prominent analyst, Fundstat’s Thomas Lee, considers Keiser’s short-term prediction too conservative.

Lee tweeted, “New #bitcoin target price $40,000 – established by our lead Digital Strategist @David_Grid – 2020 = 2016 –> halvening – 2021 = 2017 –> parabolic rise”

Altcoin gains

Bitcoin’s rise pulled some major cap altcoins up as well, with Ether nearing $750, rising 6.6% on the day, and Polkadot jumping 50% in a week to $7.50.

However, XRP, the fourth-biggest altcoin by market cap, was still in the doldrums, priced at $0.21, down nearly 24% in a week due to a pending US Securities and Exchange Commission lawsuit. Fears that Chainlink may also be in the financial watchdog’s crosshairs have been blamed for it languishing around the $11 mark as other cryptos start to pop.

(Excerpt) Read more Here | 2020-12-30 15:19:00
Image credit: source

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