True, Bitcoin is currently trying to hold above $ 51,000. But a blockchain researcher sees the price at $ 100,000 by the end of the year.
Now $ 100k is possible again by year end
Bitcoin is currently struggling once again to hold above $ 51,000 permanently – demonstrating some strength in the process. For the first time since May 12, cryptocurrency number 1 has managed to reach such prices. Briefly, BTC even rose to over $ 52,000:
# Bitcoin just smashed $52k!
– Bitcoin Archive 🗄 🚀 🌔 (@BTC_Archive) September 6, 2021
Currently (time of this article) BTC is trading at $ 51,292 after rising more than 2% over the past 24 hours.
If Bitcoin manages to hold here, numerous analysts and traders expect further gains – and ultimately a movement towards the all-time high at $ 64,863. The pseudonymous full-time trader @DaanCrypto, for example, writes to his more than 127,000 Twitter followers: Bitcoin has managed to set a higher high and continue its upward trend. He therefore sees no reason to expect further declines.
$ BTC Managed to make that higher high and continue the bullish trend.
I don’t see any reason to expect a lot of downside from here. Maybe a fill of the CME gap at 50.1 K but I’m definitely not counting on it.
Overall expecting higher prices.
Trade here: https://t.co/VZNADvrnZu https://t.co/NkhFHT4waW pic.twitter.com/7xs9AucncK
– Daan Crypto Trades (@DaanCrypto) September 6, 2021
Chainalysis CEO: Only the” Moon is the Limit ” for Bitcoin
So in the short term, Bitcoin seems well positioned to take the next hurdle towards $53k and then $58k. What could happen after that, blockchain researcher Michael Gronager explains in a recent interview.
Speaking to Bloomberg Technology, Gronager, co-founder of crypto exchange Kraken and CEO of blockchain data provider Chainalysis, says: In the long run, only the “moon is the limit” for Bitcoin. But what does this mean in concrete terms? Gronager is Extremely bullish on Bitcoin: The scientist expects a course of $ 100,000 by the end of the year. Six-digit prices for BTC-that’s what the much-quoted on-chain analysts Willy Woo and the pseudonymous Dutchman Plan B expect by the end of the year.
“I would say that with most cryptocurrencies, such as Bitcoin, Ethereum, the more stable one, we definitely see a trend where they grow from year to year, and sometimes they grow faster than others. Sometimes it’s a bull market. Sometimes it’s a bear market. A lot of interesting things are built in the bear market, and that basically facilitates a new bull market.“
But what is his assessment of the current situation on the crypto markets? Is Bitcoin’s recent surge to over $ 52,000 just a straw fire, a trap for the bulls? Gronager doesn’t see it that way. In his opinion, we are still in a bull market. With corresponding consequences:
“I believe we can rise above $ 100,000 by the end of the year. So I would also be optimistic in this regard. In the long run, I would probably say, ” The moon is the limit.”“
It is also possible to go beyond this rating, Gronager believes – so that Bitcoin, Ethereum and Co. (to buy from eToro or Libertex) can see “far higher prices”.