QCP traders expect a run to $100,000 — nearly 10% higher than the current record of over $93,000 — in the coming months, with those gains flowing into altcoins in a mark of a general “alt season.”
- The The potential for a $100,000 bitcoin is fueled by regulatory changes anticipated in the U.S. and strong adoption among institutions.
- There What are the expectations for an altcoins season following a decline in Bitcoin’s market dominance.
- Despite Despite the bullish outlook and concerns about possible market corrections, concerns persist regarding overvaluation.
Bitcoin (BTC), reaching the mythical $100 figure seemed like a lofty goal as recently as just a few months, as the asset had spent many months on the market. The narrow range under $65,000. But The dream has been revived by the promise of swiftly changing U.S. regulation.
“Predictions of BTC at 100K aren’t a pipedream anymore as the political and institutional stars start to align,” Traders at SingaporeQCP -based Capital “Said in a Telegram Broadcast Tuesday. “Despite having net ETF outflows last Thursday and Friday, BTC still looks relatively well supported and institutional adoption remains strong.”
The MicroStrategy, a prominent bitcoin backer and Metaplanet BTC Purchases Announced MondayWith the former Now holding 1.5% The total supply of the asset.
QCP expect a run to $100,000 — nearly 10% higher than the current record of over $93,000 — in the coming months, with those gains flowing into altcoins in a mark of a general “alt season.”
“BTC’s dominance is around 60% now and will probably need to be under 58% to signal the start of altcoin season. We anticipate pro-crypto policies from the Trump administration and more rate cuts. We won’t be surprised to see altcoin season in full swing in the coming months,” QCP said.
Banks Traditional financial analysts have set targets as As high as $200 after Republican Donald Trump’s Victory in the midst of adversity November elections.
JPMorgan’s retail sentiment survey The record-breaking rise in the price of oil The demand for smaller professional investors has increased by 4 in the last week. The This measure is intended to gauge the sentiments of retail investors towards cryptocurrencies and bitcoin in particular, based on activity in the BTC product family, including spot ETFs.
HoweverSome are not optimistic or upbeat as they have concerns about the near term.
“We feel that the ‘easy’ part of the rally has been done and the next stage will be much trickier with more price choppiness and potential for drawdowns,” Augustine FanCoinDesk reported that, head insights at SOFA, said in a Telegram message. “Bitcoin dominance remains on a one-way trend higher reminiscent of the mega-cap dominance in SPX, and is not particularly desirable for this stage of the crypto ecosystem.”
“We’ll be looking for a potential blow-off top in the near term with market sentiment at highly frothy levels,” Fan added.
A blow-off is a chart pattern that is recognized in technical analyses. It indicates a rapid, steep rise in the price of a particular asset followed by a similar rapid decline.
In CoinDesk senior markets analyst said that in the event of a blowoff top, a classic bearish market wick could extend down to $60,000 or lower. Omkar Godbole.
Maksym SakharovCo-founder of WeFi, mirrors your sentiment. “The upside volatility in the price of Bitcoin has slowed down since it crossed the $90,000 ATH range. The fact that the US Federal Reserve is no longer in a rush to cut interest rates moving forward has further forced investors to re-evaluate their bets on Bitcoin,” Sakharov said.
“Should the Fed continue to adopt a mildly hawkish stance toward the rate, the attractiveness of Bitcoin may decrease,” Sakharov added.
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