Why are many experts sure that the first cryptocurrency will reach a six-digit price within the current growth cycle and should we expect strong drops in quotations after that
According to the forecasts of many analysts, in the current growth cycle, bitcoin is able to rise in price to $ 100 thousand. This opinion has already been expressed by the well-known author of the Stock-to-Flow (S2F) PlanB model in the crypto community, Adam Back, CEO of Blockstream, Mike McGlone, chief commodity strategist at Bloomberg, and analysts at the British banking corporation Standard Chartered. Should we expect a correction after bitcoin reaches $100 thousand?
Exit from the asset
A year ago, not everyone supported the talk about the growth of bitcoin to $ 100 thousand. Many investors were skeptical of such forecasts until bitcoin recovered after a drawdown to $28.8 thousand. Now the first cryptocurrency is very confidently going up and looks capable of overcoming the important psychological mark of $ 100 thousand.
After bitcoin reaches $100 thousand, many investors will begin to exit the asset, because they want to make money on overcoming an important psychological level with the coin.
A difficult milestone
The probability that bitcoin will rise in price to $ 100 thousand in the next six months remains high. It will be difficult for the asset to pass this important psychological mark, so we should expect corrections, rebounds and other obstacles. Already, a large number of sell orders have been placed in the range of $ 100-120 thousand.