Bitcoin poised for surge, analysts expect new all-time high 😱📌
Bitcoin recovery coincided with the surge of the most risky assets like altcoins and equities. The Dow Jones and the S&P 500 index have jumped to a record high, while the Nasdaq 100 is a few points below its all-time high.
In a post on X.com, crypto analyst Miles Deutscher estimated that Bitcoin may continue rising in the near term, reaching a high of $81,000.
He argued that the S&P 500 index, which tracks the biggest American companies, was up by 9% above its highest level this year. As such, he told his 541,000 followers that the coin would hit $81,000 if it caught up with equities as it has done in the past.
Other analysts are bullish on Bitcoin. In a recent note, analysts at BlackRock, the biggest asset manager in the world, referred to Bitcoin as a “unique diversifier” in a report on Sept. 17.
The New York-based firm argued that the top cryptocurrency was a unique asset that is uncorrelated with equities, especially in periods of elevated risks.
MC Consultunacy founder and self-proclaimed Bitcoin enthusiast Michael van de Poppe also noted that the coin would jump to between $90,000 and $100,000 by the end of the year. He cited the soaring global liquidity, which will increase as central banks slash interest rates.