A leading analyst in the digital currency market has said that the price of Bitcoin could exceed $ 100,000 by the end of this year, and predicts that the upward trend will continue in 2022.
to the Report Bitcoin News, the price of bitcoin has recovered significantly in recent days. Crossing the $ 57,000 mark could be the most important part of this recovery. This level is practically the peak of Bitcoin in the last four months and has brought the price to a point that has never been seen since May.
Currently, the market is under the control of buyers and the feelings of investors are evaluated very positively. However, Martin Gaspar, a researcher on the CrossTower website, believes the jump is likely to be just the beginning of Bitcoin’s rise. This analyst seems to be one of those investors who thinks that this digital currency will reach $ 100,000 by the end of the year. Gaspar said this is likely to happen in the last three months of 2021.
Lack of supply in the bitcoin market
In the latest episode of the CoinMarketRecap podcast, Martin Gaspar also spoke about the future of the market’s top currencies. He believes that the future of bitcoin is bullish and the lack of supply will help increase its price.
The lack of bitcoin supply is mainly due to the increase in the number of people who want to keep this asset for a long time. Recent data show that 81% of the total bitcoin supply is now in the wallets of people who want to keep it for a long time, also called Diamond Hands. This issue has created a lot of buying pressure in the market, just as it puts unprecedented supply pressure on Bitcoin.
Gaspar says the 200,000 bitcoins likely to enter the market through the Mt. Gox exchange will not increase sales pressure. The analyst believes that it is likely that investors who have been able to recoup their bitcoins after years of struggle will still hold on to the asset as prices rise over the past few years.
Gaspar said in this regard:
I do not think these investors will put a lot of selling pressure. Bitcoin has outperformed other assets during this period [این روند] Will continue. That’s why I think many of these investors feel that keeping their bitcoins is a safer solution.
$ 100,000 Bitcoin?
Martin Gaspar also mentioned the factors that will affect the price of bitcoin by the end of this year. According to him, approaching the end of the year usually causes traders to enter the market more money. Their goal is to make more profit by the end of the year. Gaspar also says that new traders have emerged from the dull summer of 2021 and that resuming operations will strengthen the market.
Despite the jump in prices in recent weeks, Gaspar believes that the market will continue to rise in 2021 and even in the first three months of 2022. He predicts that the price of bitcoin will exceed $ 100,000 by the end of the year, and said that it may reach $ 150,000. Gaspar believes that investors will still maintain their assets when the price reaches above $ 100,000 and expects the selling pressure to increase when the price reaches $ 200,000.