The most recent Bitcoin rally to a new ATH of more than $66,000 has made many people very bullish since the King of Crypto more than doubled its price compared to a year ago.
The head of research and strategy for AAX, Ben Caselin, declared:
“Bitcoin breaking its all-time high was a long time coming and had been in the making ever since the asset shed 50% of its value in May.” His prediction is that BTC will reach the $100,000 level, like several other analysts.
The price of Bitcoin has rallied over 50% only this month, as a result of the US SEC approving its first ETF.
Damanick Dantes from CoinDesk believes that $86,000 could be the next key price target for bulls: “All eyes are set on the $100K mark, but when retail does rush in and more funds open up to bitcoin, including physically backed ETFs, $100K is unlikely to be the end of it.”
The CPO of Stack Funds, Matthew Dibb, predicts that $80,000 represents the next target, while the founder of ARK36, Ulrik Lykke, said: “I wouldn’t be surprised if we see bitcoin climb towards $100,000 during Q4 of 2021 or Q1 of 2022.”