The cryptocurrency analysis company CryptoQuant states that Bitcoin will eventually break through $100,000, with further room for increase, estimating this bull market will reach at least $147,000. (Background: Bitcoin holds at $95,000, Ethereum temporarily cools down, five major data suggest $90,000 may be the bottom for BTC) (Supplementary background: Trump 2.0 cabinet forming a cryptocurrency national team? More than five are veteran Bitcoin players) Bitcoin hit a historical high of $99,588 on November 23 and then saw a correction, dropping to a low of $90,800 on November 27. However, at the time of writing, Bitcoin is rebounding, reported at $97,335, with a near 24-hour increase of 2.48%, showing momentum to once again challenge the $100,000 target. Bitcoin trends. Source: OKX CryptoQuant: Bitcoin still has more room for increase In response to the recent fluctuations in Bitcoin, cryptocurrency analysis company CryptoQuant earlier released a report indicating that the recent correction is merely a temporary setback on Bitcoin's way to challenge the $100,000 mark. BTC will ultimately break through $100,000 and rise to higher prices. First, according to CryptoQuant's Profit and Loss Index (P&L Index), Bitcoin is confirmed to be in a bull market, but it has not yet reached the previously overestimated levels; the market is not overheated or overbought. Second, retail investors' market participation is still relatively low. According to CryptoQuant statistics, since October, retail investors may have sold 41,000 BTC due to profit-taking, while institutions or whales have continued to accumulate 130,000 BTC during this period. Finally, the proportion of new investors entering the market remains low. CryptoQuant indicates that investors holding Bitcoin for less than six months only account for 50% of the market, a figure far below the levels of 80% to 90% seen during the bull markets of 2017 and 2021. CryptoQuant wrote in the report: Price tops usually occur when a large number of new investors enter and purchase at extremely high price levels, leading to a large proportion of new investors in the total investment value. Bitcoin looks to $147,000 Regarding Bitcoin's peak valuation in this bull market, CryptoQuant analysts point out that Bitcoin will reach at least the target of $147,000: According to previous bull market models, Bitcoin almost peaks at the high of the realized price indicator, which is four times the average price of the last transfer of all circulating Bitcoin in the market. Currently, Bitcoin's realized price is around $36,000 to $37,000, indicating this high will fall around $147,000. Related reports Chinese mining company SOS announces it will purchase $50 million worth of Bitcoin, "stock price surges 42%", another company wants to rely on BTC for survival Israel and Hezbollah reach a ceasefire agreement! Gold and Bitcoin both decline, has the safe-haven trend ended? Pantera Fund: We bought 2% of global Bitcoin ten years ago, now realizing a 1130-fold return myth "Bitcoin holds at $97,000! CryptoQuant: Breaking through $100,000 is just a 'matter of time', this round looks to $147,000" This article was first published in BlockTempo (the most influential blockchain news media).

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