Analyst: The goal of Bitcoin reaching 100,000 dollars seems very reasonable
On November 10, Jag Kooner, the head of derivatives at Bitfinex, stated that although it's difficult to predict Bitcoin's price, a target of $100,000 in a few months "doesn't seem too far-fetched". He added: "Given the bullish momentum and the fact that the economy has avoided recession, we expect Bitcoin's downside is limited now. This ($100k target) seems very reasonable."
In addition, James Butterfill, research director at CoinShares also said that Bitcoin rising to $100k - which means there is still 33% upside potential - "is possible now", as Trump’s victory and Republicans gaining control of Senate could more easily push for an “expected relaxed regulatory framework”, and a $100k bitcoin “doesn’t sound so unreasonable” because its market value equals “only 10% of gold market share”. He believes that future major catalysts for Bitcoin are changes in SEC leadership, crypto-friendly regulations and further adoption by large companies. He added another potential catalyst could be Federal Reserve interest rate cuts.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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