The big correction predicted by the best analysts has yet to materialize as Bitcoin comes back to $ 40k. This resulted in a renewal of six-digit price forecasts for this market cycle, with some suggesting a top of $ 300,000 this time around.

 

Bitcoin was trading at $ 37,900 after reaching an intraday high of $ 40,000 at the time of writing. The asset had begun to decline in the Asian session on Friday and failed to break the previous high of $ 42,000, but sentiment is still very bullish.

The total crypto market value has exceeded one trillion dollars, as some altcoins like Polkadot have made huge 24-hour gains.

When will Bitcoin come to $ 100,000?

Popular traders and analysts have returned to the game of predicting prices and they largely agree that this market cycle will result in a six-digit Bitcoin price.

Josh Rager said he thinks Bitcoin will see a six-digit price in early 2022.

“After the recent price action, I have to say that I think Bitcoin, which has reached $ 40,000 so fast, will see a six-digit price in early 2022.”

He added that at such a summit, the name ‘Bitcoin’ will be mentioned on every television, phone and tablet in the world.

 

Between 250-300 thousand

TraderKoz, a trader with 28 thousand followers on Twitter, emphasized that this cycle will increase us to 250 thousand to 350 thousand dollars with an estimate:

See Also
Bitcoin dominance at the top of the last 1 year

“From there, we have 3 years of savings in the $ 60-90,000 range before Bitcoin took over the entire financial system. The bull run will get us over $ 1,000,000. ”

Michael Saylor, who bought large amounts of Bitcoin from institutional investment firm MicroStrategy, continues to send bullish tweets about the asset to his 330,000 followers.

Institutional Impact

Bulk derivatives exchange data provider Bybit reported that Bitcoin institutional entries showed no signs of slowing down, adding that there may be a new round of acquisitions by Grayscale.

Grayscale reported that the managed asset (AUM) figure was $ 27.7 billion in its latest update. The company also released its fourth quarter report revealing that there was record investor demand during this period, with an inflow of approximately $ 3.3 billion.

LEAVE A REPLY

Please enter your comment!
Please enter your name here