Are $100,000 Bitcoin Price Predictions Plausible? Analyst Says Crypto Markets Showing Remarkable Strength Amid Stock Market Wipeout

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A top crypto analyst and economist is looking at fundamental factors which he says can determine whether Bitcoin will ascend to $100,000 by the end of the year.
Alex Krüger tells his 95,000 Twitter followers that a $100,000 Bitcoin price tag in three months is a tough sell given the U.S. Federal Reserve Bank’s inclination to reduce the money supply to tame inflation.
 
However, Krüger  says  he will immediately change his mind if a Bitcoin exchange-traded fund (ETF) is approved.
“Seeing plenty traders calling for $100,000 by year-end, which makes little sense to me given a hawkish Fed – an ETF approval would change that, though don’t see that happening in 2021. We shall know very soon.
I’ll buy BTC at market on an approval “
Krüger is also looking at the performance of the crypto market, which he sees showing “remarkable strength” amid the stock market sell-off.
“Crypto assets have been showing remarkable strength in the last two days in view of a continued bloodbath in equity markets, where traders have been looking for reasons to sell. Likely driven by month-end fund inflows.”
The crypto analyst adds that Bitcoin’s chart looks promising despite threats from macro fundamental factors.
“ If you go by the chart, have to be very long here. If you go by the macro, have to be wary about the Fed and equity traders fearing a replay of 2018.
I’m going by the chart.
If for whatever reason BTC sees $41,000 again think the price will continue lower next time .”
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The post Are $100,000 Bitcoin Price Predictions Plausible? Analyst Says Crypto Markets Showing Remarkable Strength Amid Stock Market Wipeout appeared first on The Daily Hodl .



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