- 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.
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:
“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.
#Bitcoin is a feat of monetary engineering, and more closely described by the math, science, & technique of aerospace engineering than the models of financial or software engineering.
— Michael Saylor (@michael_saylor) January 14, 2021
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.