⭐️ $100,000 per Bitcoin ‘around the corner,' says expert
Since the beginning of November, the wider cryptocurrency market has entered a renewed bull run.
The continued and rapid rise of institutional adoption, geopolitical and inflationary tensions, and the election of Donald Trump, who is widely seen as the first pro-crypto President are providing strong tailwinds for digital assets.
It comes as no surprise that the biggest beneficiary has been Bitcoin (BTC). Over the course of the last thirty days, BTC prices have risen by 45.53% — bringing year-to-date (YTD) gains up to 123.86%. At press time, one Bitcoin was worth $98,010 — analysts are generally euphoric, setting ever-higher price targets.
However, a notable number of experts are reminding investors that such phases tend to last a couple of months before being followed by a pullback. Similar sentiments were echoed by renowned crypto researcher Michaël van de Poppe in an X post on November 21.
🔸 Van de Poppe predicts BTC flash crash followed by multi-month altseason
Although bullish, the expert, who has since shifted his focus toward altcoins, predicts that BTC reaching $100,000 is around the corner, he is also cautioning that a flash crash might soon follow.
He forecasts that a rapid drop in Bitcoin price and subsequent rapid recovery will be followed by a multi-month altseason — during which the returns on smaller cryptocurrencies will outperform those of BTC.
The analyst also outlined two points of interest that could serve as opportunities to buy the dip. Depending on the severity of the predicted flash crash, investors should keep an eye out for prices at $85,000 and $79,400, as noted in a chart provided in the X post.
His bullish sentiments are far from fringe views. Renowned technical analyst Ali Martinez is even more optimistic, predicting that the price of the digital asset could reach $135,000 by the end of 2024, based on parallels with Bitcoin’s December 2020 rally.