Cryptocurrency trader Jason A. Williams has made a bold prediction regarding the future price of Bitcoin (CRYPTO: BTC), suggesting that if the cryptocurrency breaks the $35,000 mark definitively, it could skyrocket to an astonishing $789,000 in a single candle. 

What Happened: Williams expressed his concern over this potential scenario, admitting that it keeps him up at night.

This is not the first time Williams has mentioned this target. In a previous tweet, he explicitly stated, “$789,000 Bitcoin in play.” 

If Bitcoin were to reach a price of $789,000, and considering the current market capitalization of Bitcoin at $669.61 billion, the total market size of BTC would amount to an astounding $669.35 trillion. It is important to acknowledge that Apple’s market size currently stands at 2.66 trillion dollars, making it evident that Bitcoin exceeding a market size of over 669 trillion dollars will be a formidable challenge.

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Why It Matters: On the other hand, there are other analysts who expect a temporary dip in Bitcoin’s price before a bullish breakout. Trader and analyst Ali Martinez believes that BTC may experience a momentary decline, potentially dropping to the $33,000 range. 

Martinez explained, “Bitcoin looks like it wants to pull back before advancing higher! BTC appears to have formed an ascending triangle on the hourly chart. As BTC trades below the hypotenuse, the odds increase for a 5% correction toward $33,000.”

Adding to the mix, a pseudonymous crypto analyst known as Credible Crypto has also predicted a significant upswing in Bitcoin’s price. According to Credible Crypto, the cryptocurrency has possibly found a local bottom, reaching the diagonal support of a bullish pennant pattern at $33,400. 

Price Action: At the time of writing, BTC was trading at $34,318.16, up 0.10% in the last 24 hours, according to Benzinga Pro.

Photo by AlyoshinE on Shutterstock

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