After a very hard 2018 for Bitcoin (BTC), the bear market could have ended and a new bull market could be starting. The chief market analyst at ThinkMarkets, Naeem Aslam, said that Bitcoin could reach $100,000 in the next bull run. Aslam is a business and financial economics graduate from the University of Leeds.
Naeem Aslam Says Bitcoin Could Reach $100,000
Bitcoin enthusiasts will be really happy to know that the digital asset could eventually reach $100,000 during the next bull run. Before talking about it, Aslam said that there are some questions that are being asked when Bitcoin is currently fighting against the $4,000 mark.
About it, he mentioned:
“Since December 14th, 2018, there have been several battles between bulls and bears at the price level of $4,000. In each of these battles, bulls have lost the war because, after the first attack at the $4,000 level, the bears have been able to gain enough strength to push the price back below this critical mark.”
He explained that this level has become a matter of life or death for Bitcoin traders. However, he said that users that are thinking in the long term shouldn’t be worried about these short-term levels. Aslam commented that long term investors have a price target in mind that they are targetting at.
Furthermore, Aslam said that the next bull market in the cryptocurrency space could bring Bitcoin to over $100,000. This is five times more than the last all-time high that Bitcoin reached back in December 2017. Nonetheless, if $100,000 was not enough, he said that the digital asset could eventually surge to $400,000.
Due to the fact that Bitcoin broke the longest streak of monthly losses ever recorded, the digital asset could be leaving the crypto winter behind.
This is not the only expert and analyst that is predicting a higher Bitcoin in the coming months and years. Tim Draper, the recognized cryptocurrency supporter and venture capitalist, said during an interview with Forklog that Bitcoin could be traded around $250,000 between 2022 and 2023.
Moreover, Bitmex’s Arthur Hayes says that Bitcoin will be traded around $10,000 by the end of the current year. Although he said that the entire 2019 will be boring, Bitcoin could start growing strongly at the end.