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August 9, 2022
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Bitcoin

Bitcoin for $ 100,000? It is only a matter of time – says a well-known analyst –

The eminent investment strategist and trader says Bitcoin looks like an asset that could soon cost as much as $ 100,000. In his new tweet, Kaleo told his followers that it’s only a matter of time until we see 1 BTC for as much as $ 100,000.

Bitcoin at $ 100,000

His extremely optimistic expectations for Bitcoin came as he revealed his long-term forecast for a flagship cryptocurrency. According to him, the current price action of BTC reminds him of the sideways consolidation that took place before Bitcoin hit above $ 10,000 in 2020.

In turn, looking at the price action that made Bitcoin soaring from around $ 13,000 in November 2020 to over $ 40,000 in early 2021, Kaleo copies the resulting pattern and superimposes it on the current BTC market structure. In his opinion, this gives very impressive results. In his view, the cryptocurrency could ultimately cost nearly $ 200,000 in this cycle.


BTC at $ 200,000

Kaleo is not, however, which is worth adding, in his opinion alone. Analyst Willy Woo believes that Bitcoin will exceed the level of USD 200,000 and will ultimately cost as much as USD 2 million in a few years. The reason is to be, however, not so-called “Street”, but institutional investors who have settled for good on the cryptocurrency market.

– We can see it by following the flow of coins from exchanges, where usually people speculate or buy and sell their coins, they have a fixed inventory, some of which are dedicated to speculation. We have just seen an unprecedented depletion of these resources. If you look back at the 2017 boom, we’ve seen a five-month run out of stock. This was enough to push the 2017 boom to $ 20,000 – explained Woo.

Current Bitcoin rate and other cryptocurrencies, you can always check the tabs: exchange rate Bitcoin and the cryptocurrency rate at . A place where you can buy BTC and more coins, include cryptocurrency exchange BitBay.net. If you do not have an account on BitBay yet, from this article you will learn how to efficiently create one: LINK.

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