Bitcoin Aims for $100,000 by Month-End, Analyst Predicts
Bitcoin is currently trading at $82,900. However, a well-known crypto analyst, Josh Mandell, believes it could hit $100,000 by the end of the month. This prediction hinges on Bitcoin closing above $84,000.
Mandell, with over 79,000 followers on X, has a strong background in trading.He worked for Salomon Brothers adn Caxton Associates, a top hedge fund. His portfolio has grown from $2.1 million to over $23.4 million, largely due to Bitcoin and MSTR options trading.
Several factors could drive Bitcoin’s price up. First, the market needs to adjust to ongoing trade tensions. Second, the Federal Reserve must adopt a dovish stance as the U.S.economy faces potential contraction.
Other analysts share Mandell’s optimism. Cathie Wood’s Ark Invest recently bought $80 million worth of Bitcoin. Michael Saylor’s Strategy has also increased its Bitcoin holdings.
Historically, markets overreact to black swan events but recover quickly.The COVID-19 pandemic is a prime example. If these conditions align, bitcoin could see a meaningful price increase.
For now, investors remain cautious. The crypto fear and greed index is at 24,indicating fear. despite this, the potential for a Bitcoin rally is strong if the right conditions are met.
