CryptoWatch: Bitcoin headed for $20,000 in six months, says CEO of cryptocurrency platform

Bitcoin, the world’s biggest digital currency, drifted back under $8,500 on Monday as weekend gains slowly faded. The broader digital-currency market fared even worse, with most virtual assets kicking off the week in decline.

After reaching a weekend high of $8,575.99, bitcoin has retreated and a single bitcoin BTCUSD, -1.27% was last worth $8,402.63, down 1.8% since Sunday’s levels at 5 p.m. Eastern Time on the Kraken exchange.

Despite the sluggish start to the week, some bulls remain unbowed. Rodrigo Marques, chief executive of Atlas Quantum, one of Brazil’s largest crypto trading platforms, said in an email to MarketWatch that the move under $8,000 was an interim low for bitcoin, adding that he expects bitcoin to reach $20,000 in six months, recapturing levels it hasn’t approached since December.

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