ThinkMarkets Crypto Analyst Puts Bitcoin Between $60K and $100K USD During the Next Bull Run
- Bitcoin could be traded around $100,000 in the future according to crypto analysts
- Bitcoin has recently surpassed $11,300
Naeem Aslam, the chief market analyst of ThinkMarkets, considers that Bitcoin could hit between $60,000 and $100,000 during the next bull run. This is what he said in an interview with Fox Business on June 24. He is not the first expert that believes that the digital currency could eventually reach $100,000.
Could Bitcoin Skyrocket Over 9 Times From Current Prices?
Back on June 17, Aslam predicted that the digital currency was going to be reaching $10,000 in just a few weeks due to a large institutional involvement. Bitcoin (BTC) indeed was able to register that price level and surpass $11,300 for a brief period of time.
At the moment, there are some important price levels that users should pay attention to. These levels include $20,000 and $50,000. By hitting $20,000 he considers that the digital currency will move from conservative estimates and it would eventually move towards $50,000. Finally, the market could keep investing in Bitcoin and help it reach $100,000.
During the last months, there has been a price increase in both gold and Bitcoin, which shows that there is a lack of confidence in the stock market. At the same time, there are some geopolitical conflicts that are also playing an important role as well.
Aslam considers that a potential war in the Middle East could also be one of the biggest drivers behind this price increase in Bitcoin and gold. The virtual currency expanded its reputation as a safe haven for storing wealth and in case of crisis or global turmoil.
He is not the only analyst considering that Bitcoin could reach $100,000. A few days ago, the recognized chartist Peter Brandt wrote on Twitter that Bitcoin is currently aiming at $100,000. He has also mentioned that in his 45 years of trading, he has never seen an asset go parabolic on a log chart in this way.
Bitcoin takes aim at $100,000 target. $btcusd is experiencing its fourth parabolic phase dating back to 2010. No other market in my 45 years of trading has gone parabolic on a log chart in this manner. Bitcoin is a market like no other. pic.twitter.com/wE4j3riMgI
— Peter Brandt (@PeterLBrandt) June 22, 2019
At the time of writing, Bitcoin is being traded around $11382 and it has a market capitalization of $202 billion.