A favorable macro environment, strong on-chain fundamentals and the approval of new futures-based ETFs in the United States are set to launch Bitcoin (BTC) to new all-time highs this quarter., according to a survey of fintech industry specialists commissioned by Finder.
The 50-person industry panel expects Bitcoin to peak at $ 80,000 this quarter before ending the year at around $ 71,400. The flagship digital currency is trading at $ 62,600 on Tuesday, according to Cointelegraph Markets Pro. A target of $ 80,000 represents 28% more potential for BTC in the coming months.
Finder’s panel includes Cypherpunk Holdings COO Daniel Cawrey, Bitcoin Reserve CEO Nik Oraevskiy, Kraken CEO Jonathon Miller, Arcane Research Analyst Vetle Lunde, and Ki Young Ju, Principal. CryptoQuant executive. Seven university professors from Asia, Europe and Australia also gave their opinion.
Although the consensus target puts Bitcoin on track for a bullish quarter, it is well below the coveted six-figure price level that many analysts believe is not only possible but probable.. Forecasts from Standard Chartered and Bloomberg suggest that $ 100,000 Bitcoin could become a reality this year due to a combination of technical, fundamental, and adoption-based factors.
Apart from the psychological milestone, A target price of $ 100,000 BTC is not nearly as important as determining when the current market cycle will peak, assuming you haven’t already. Institutional participation in Bitcoin has accelerated over the past five weeks, offering a compelling sign that the bull market has resumed after the summer slump. According to on-chain analyst Willy Woo, the next phase of the Bitcoin market will be “more volatile” than previous bullish periods, implying a longer time horizon for the current cycle.
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