A prominent crypto analyst believes Bitcoin could reach $100K this month after breaching its ATH recently.
Let’s take a closer look at this forecast and how realistic it is.
Market analyst Crypto Rover believes that Bitcoin will reach $100K imminently, predicting the move will occur within 21 days of its ATH, created on 5 March. Consequently, this analysis indicates BTC could hit $100K by 26 March.
“Once Bitcoin breaks above its ATH, it historically only hits the 1.618 fib extension ($102,134) within 21 days. Sit back and enjoy the pump to $100k,” he wrote on X.
The analyst pointed to a price chart displaying Bitcoin surpassing the 1 Fibonacci extension level, with the next level (1.618) at $102K.
In another tweet, Crypto Rover referenced the unprecedented ETF inflow demand as a key driver in Bitcoin’s $100K potential.
He wrote, “There is no reason to be bearish on Bitcoin now. At this pace of accumulation by these ETFs, the BTC supply will run out very quickly. A supply shock is happening, and $100K will come much quicker than you think.”
The analyst then cited data that Bitcoin spot ETFs accumulated over 30,000 Bitcoin last week, while only 6,160 Bitcoin were produced through mining.
In a related tweet, Crypto Rover speculated, “In the current market conditions, there is a possibility that within the next six months, there is no supply left to buy.”
Senior ETF analyst at Bloomberg, Eric Balchunas, highlighted the Bitcoin ETFs accelerating interest, noting monumental trading volume on Tuesday.
“The second biggest volume day for the ten and best day in the past five w/ $8.5b (only five stocks traded more,” he explained.
While Crypto Rover’s $100K price target is indeed ambitious, the unprecedented ETF demand opens Bitcoin to a new paradigm of novel market dynamics.
While Bitcoin enjoys an immensely bullish outlook, new presale crypto Green Bitcoin is also exploding, recently crossing the $3.8 million total raised milestone.
Green Bitcoin offers an environmentally-friendly alternative to BTC on the Ethereum blockchain.
Swapping out mining for staking, the project offers a significantly greener and more accessible way for users to generate rewards.
Currently, stakers can garner a 127% APY, but this will decrease as the staking pool grows.
Another benefit to staking is that it encourages long-term holding, helping reduce $GBTC sell pressure to bolster the price.
Staking also grants holders access to Green Bitcoin’s landmark feature, predict-to-earn.
The mechanism invites users to guess whether Bitcoin’s price will rise or fall the next day in exchange for rewards and up to 100% bonuses.
This combination of staking and a prediction model provides Green Bitcoin with hard-wired utility, another advantage over its legacy counterpart.
Consequently, analysts are notably bullish, with Jacob Bury recently speculating it could 10x after its initial exchange offering (IEO).
The project has also received a nod of approval from prominent media outlets, featured in the likes of Cointelegraph, Techopedia, NewsBTC, and Finbold.
This reflects Green Bitcoin’s innate ability to garner hype, presenting massive potential following its exchange launch.
Currently, the Green Bitcoin presale price is $0.8402, but this will rise throughout the campaign, with the next uptick in just three days. Therefore, those looking to secure the best price should not wait around.
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