Market analysts believe that Bitcoin will reach a peak of $100,000 by the end of the year

Bitcoin was affected by many forecasts as it approached the fourth quarter of this year. At this time, the price of digital assets is still rising, and investors expect this upward trend to continue. Although it is not yet certain when the token will break through the previous record high again, experts expect that the digital asset will rise by 2 times or more from this time on.One of the analysts who think Bitcoin will reach $100,000 by the end of the year is the market Kevin Wadsworth.

Related Reading | By March 2022, the former Goldman Sachs executive and Real Vision founder set the value of Ethereum at $20,000

Wadsworth is the co-founder Polaris and bad graphs, A company that provides customers with technical analysis.Co-founder at Strange News Talk about cryptocurrency with news anchor David LinHere, Wadsworth predicts his short-term and long-term views on Bitcoin.

Dipping before climbing

Analyst Kevin Wadsworth explained that although the bull market is not over yet, it will end before the end of the year. Wadsworth’s prediction is that Bitcoin is most likely to fall before the bull market continues. Before starting another run, set the bottom line for this decline at $40,000. But this time, this operation will lead to a record high for digital assets.

“I think the crypto bull market will end before the end of the year. All the crypto charts I have been drawing and viewing are slightly different in the third week of September and some of them may last until mid-October or even late October. Therefore, there is such a four-week window between late September and late October, where I will look for the crypto bull market to reach its peak.”

BTC price still trading less than $50,000 | Source: BTCUSD on TradingView.com

Wadsworth set the price of Bitcoin at $100,000 when it reached its peak. Adding more than $100,000 is usually a bonus for the market. In addition to BTC reaching this price, he also predicts that other altcoin markets are most likely to see significant increases.

Long-term bullish on Bitcoin

Kevin Wadsworth has made interesting revelations about Bitcoin in five years. Wadsworth explained that his company’s analysis of digital assets convinced them that the price of BTC will soar to $1 million in the next four years. He set the year of achieving this price as 202 bitcoins. At the same time, he added that his company’s analysis has a 90%-95% success rate for such predictions.

Related Reading | The billionaire who predicted the real estate crash in 2008 called Bitcoin “worthless”

Wadsworth added that although he is bullish, he is also cautious. Called his position “cautiously bullish.” With the movement of Bitcoin, the co-founders expect altcoins to also surge. “If we reach $100,000, I expect altcoins, ether and other currencies will increase threefold and fourfold,” Wadsworth said.

Featured images from the Financial Times, charts from TradingView.com

Source link

Leave a Reply

Your email address will not be published. Required fields are marked *