“Bitcoin $100,000 target is more solid now!”
The strategist of New York-based Fundstrat Global claims that the Bitcoin bull run is not over yet and will see an increase of over 100% from here! So, what are the factors that will carry the Bitcoin price to $100,000?
Will Bitcoin reach $100,000?
Bitcoin’s retracement after hitting $64.80 and hitting a 2021 high turned into a major correction.
Shortly after recording the new high, Bitcoin price started a parabolic run. made one of the biggest fixes he’s seen since it started. Could this correction have ended the Bitcoin bull run?
According to one of the industry’s leading research firms, this price action indicates that we will likely see a much larger uptrend and 2021 will be a much better year. doing. This move, which is highly likely to happen, could make the Bitcoin $100,000 target possible!
So what are the factors that will move the Bitcoin price to $100,000?
An important market strategy and cryptocurrency research company based in New York. A healthy pullback could strengthen Bitcoin’s $100,000 target, Fundstrat’s strategist says. why he thinks Bitcoin is still heading towards the 100,000 mark despite the recent correction.
Grider says a healthy correction could strengthen Bitcoin’s bullish outlook. In an interview with Yahoo Finance, Grider said:
“Of course we don’t see this as something that leads to a 2017-like peak, but rather to continue the uptrend. We see it as the factor leading the market to a healthy cooling period.”
Grider also points out that despite BTC’s pullback, alternative cryptocurrencies continue to perform relatively well.. Ethereum, for example, has only lost around 5% since hitting its all-time high. He says they can stay.
According to the analyst; The relatively low volatility of these cryptocurrencies indicates that the peak has not yet arrived, which means the market remains strong. It’s a strong indicator and we’re not seeing large amounts of capital flight either.”
Bitcoin may still be in the midst of a bull run!
Proponents of the stock-to-flow model believe that the upward trend in Bitcoin will continue.. The idea behind this popular model is the fact that as the supply of the asset decreases, its price will increase.
So the model reveals the ratio between the size of the current reserves of an asset (stock) and how much (flow) the producer of that asset can create each year.
The stock to flow model (S2F) is known as a model developed to compare the inflation rates of financial assets.. It is obtained by dividing the amount of the asset traded in the market by its annual supply.
This variable, called the stock-to-flow ratio, deals with the portion of a commodity or asset held by investors compared to the new output.. For example, gold has the highest stock-to-flow rate.. Therefore, even if the price of gold falls in the short term, it will never fall in the long term.. Therefore, one of the main factors that makes Bitcoin valuable is its limited supply, like gold.
Bitcoin, like gold, shows a high stock-to-flow rate.. Known as the creator of the stock-to-flow model, Plan B reveals that Bitcoin’s Stock-to-flow rate is mandated every four years as a result of the halving event.
PlanB says the Bitcoin bull run is not over yet and the biggest crypto will continue to see new highs. And according to the model, he predicts that the value of BTC will increase 10 times in the next few years.
He also says that BTC is still in the middle of a long-term bull run and could hit a stock-to-flow target of up to $288,000.
Many analysts, however, remain bullish, pointing to BTC’s past cycles of big gains after a massive drop.
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