Can Bitcoin Hit $ 100,000? / Argentina News

The cryptocurrency’s advance to $ 67,000 on Wednesday has traders watching to see how the landscape changes.

After reaching its all-time high last Wednesday, the increase in Bitcoin it weakened with the debut of the first ETFs. However, there are analysts who estimate that the next rally will take it to $ 100,000 for the end of the year.

This week’s preview to about $ 67,000 has traders on the lookout to see how the landscape changes, now that America’s first exchange-traded bitcoin futures funds have come into play.

For Cristóbal Pereira, CEO of LatAmTech Finance, these small positive impulses bring Bitcoin closer and closer to reaching US $ 100,000 in the future by the end of this year.

Many experts project a hike to $ 100,000 by the end of the year. Among them the CEO of BitMEX, Alexander Hoptner, who suggested that level Friday in an interview with Bloomberg Television.

Bitcoin reached its record on Wednesday following the launch of the ETF in the US, and due to sustained institutional investment in cryptocurrency assets and possible purchase by larger investors known as “whales.”

Other analysts see the next test at around $ 90,000.

Can Bitcoin Hit $ 100,000?

Positive trend

Katie Stockton, founder of Fairlead Strategies, said Monday, before the last record, that a breakthrough to new highs offers a positive long-term trend that should see the digital currency target at $ 89,800, according to a projection.

“In general, it is still a constructive market,” he said. Todd Morakis, a co-founder of JST Capital, who is on the lookout for another possible pullback but is also on the lookout for levels of between $ 72,000 and $ 75,000 higher, said in an email on Friday.

Other experts point out that there could be a rapid rise to $ 87,100, which would be the first target, according to the Fibonacci projection.

According to the Transfero team of analysts, responsible for the BRZ stablecoin, you can see the formation of a Bullish Channel, which is a continuation pattern, which extends inclined, in this case, upwards.

The advance of the cryptocurrency this week to about $ 67,000

Bitcoin traded near $ 67,000 on Wednesday

Another prominent factor this week was the global market capitalization of cryptocurrencyas, which also reached a new record, with $ 2.3 trillion.

In the opinion of the Transfero team, the expectation is that this rise could reach new heights when the altcoins begin to gain traction with the bullish movement of Bitcoin.