By Hassan Mehmood (Saudi Arabia)
As Bitcoin overcomes the crucial and psychological level of $10,000, analysts are bullish about the leading digital asset. Prominent YouTuber and analyst in the crypto community sets his prediction to $100,000 for Bitcoin.
Traders and investors who have invested in Bitcoin are waiting for the bullish breakout and their wish may come true soon. In his latest video, YouTuber Nicholas Merten believes that breakout is close. According to him, the leading digital asset will attain $100,000 in the next two years. Merten said:
“If we take a look at the logarithmic chart, where we have the line resistance that’s curving over time, it’s roughly around a big even of $100,000.”
Short-term Prediction
He has also given his prediction for the short-term as the price is likely to reach $12,000 before claiming $14,000. He stated:
“We are now starting to see a breakout here […] I would not be betting against Bitcoin right now. We could very well be going in to set in a relative short-term high here around $12,000 then eventually testing above here on $14,000.”
Also read:He also demonstrates that rising BTC price has also poured great influence over altcoins which also witness the highest values.
Trading Volume is Increasing
As the price value soars, trading volume is also increasing. The trading volume at Galaxy Digital, founded by Mike Novagratz, reaches new highs.
“We’ve seen a strong increase in volumes through our desk since the start of the year as our institutional counterparty base has grown in size and sophistication,” Tim Plakas from Galaxy Digital said. “In terms of the recent move higher, the uptick in volumes we’ve seen will put this month on track to be at record levels in-line with what we saw during the climb out of crypto winter back in spring 2019.”
After overcoming $11,200, the next goal of Bitcoin is $11,700. Crypto trader and analyst Michael van de Poppe said,” Crucial threshold is still the $11,200 level. Breaking through and $11,500-11,700 is next!”
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