Price Target: The Case For 100k Bitcoin
Many investors will argue, this the next bull market for crypto and bitcoin. The bull case is strong after the previous all-time high from 2021 at 69K was broken. Here is the bull case based on charts.
As stated, Bitcoin has broken the previous all-time high. In addition, the Federal Reserve looks set to start cutting rates and printing money all over again. The US government keeps running up the national debt, now nearing $35 trillion and investors are worried about global war breaking out.
Spot ETF's have been approved and the halving is upon us. Everything seems to align with a big bull run on Bitcoin.
On a chart basis, if you connect the bull market cycle high from 2017 of $20,000, the bull market highs of 2021 at $65,000 and $69,000, a trend line stretches up and out and would pinpoint the bull market cycle at $100,000.
This bull run would be very realistic considering the last bull run went from $20k to $69k. This was an approximate move of $50k and sets the table for a very realistic bull run (a break up the previous all-time high) of just $30k, hitting $100k. It also puts the market cap of Bitcoin at $2 trillion.
