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Bitcoin could rise to $100,000, analysts say: Crypto Daybook Americas - COINDESK
By Omkar Godbole (All times ET unless indicated otherwise)
Crypto analysts are predicting a continued move higher in bitcoin after the cryptocurrency jumped past $95,000, breaking through a level that previously marked strong selling pressure.
"Technically, BTC now has a clear path towards the $100-106K area, limited by the psychologically crucial round level from below and the 200-day MA from above," Alex Kuptsikevich, chief market analyst at The FxPro said in an email, using an acronym for moving average.
Charts are painting a strong bullish picture with prices trading above $95,000, the highest since Nov. 17 and well above the 50-day simple moving average, he said.
Gains in precious metals, typically seen as havens at times of geopolitical unrest, are key to lifting bitcoin higher, said Singapore-based QCP Capital.
"If metals keep catching a debasement bid, BTC’s relative value may pull flows back into digital assets," it said.
The firm explained that the "Goldilocks" macroeconomic scenario — not too hot, not too cold — is driving renewed risk-taking across markets.
"Goldilocks still holds: U.S. jobs look steady and inflation remains stable. Risk is back across the board, from equities and precious metals to the dollar and crypto," QCP Capital said.
