When Bitcoin (BTC) Price Will Hit $100k? Analyst Predicts The Timeline

Coinpedia
Coinpedia

29 Jun 2023 5:03 AM

Bitcoin's rise above the $31,000 mark is a major milestone. It reached a one-year high despite the ongoing bear market. And the upward trend may continue....

  • Bitcoin's price has reached a one-year high above $31,000, despite the ongoing bear market.
  • Fidelity Investments filing for a spot Bitcoin ETF has contributed to the surge in price.
  • The potential introduction of a legitimate spot ETF could attract new capital and generate greater interest in the market.
  • Cryptocurrency analyst Kaleo predicts that Bitcoin will surpass $100,000 in late 2024 or early 2025.
  • Kaleo's projection aligns with Bitcoin's upcoming halving event in April 2024.
  • Bitcoin breaking above a bearish downtrend against the Nasdaq 100 index (NDX) historically signals substantial rallies for the cryptocurrency.
  • Investors are encouraged to pay attention to the correlation between Bitcoin and the NDX.

The article discusses positive developments in the Bitcoin market, such as the price surge, the potential introduction of a spot Bitcoin ETF, and the prediction of Bitcoin reaching a six-figure price. The sentiment is generally optimistic.

Go to publisher site

You May Ask

What is the current price of Bitcoin?What is the significance of Fidelity Investments filing for a spot Bitcoin ETF?When does Kaleo predict Bitcoin will surpass $100,000?What historical pattern does Bitcoin breaking above a bearish downtrend against the NDX indicate?Why does Kaleo encourage investors to pay attention to the correlation between Bitcoin and the NDX?

Suggested Reads