Bitcoin’s price is approaching its ATH of $73,750, fueling widespread expectations of a surge to $100,000. Industry experts view this step as key, potentially triggering a chain reaction that could propel Bitcoin’s value to higher heights.
Samson Mow, the CEO at Jan3 and a Bitcoin aficionado stands at the forefront of this bullish sentiment. He argues that a “recursive demand shock” phenomenon will occur once Bitcoin surpasses its previous ATH.
In his view, this event will catapult Bitcoin’s price to $100,000, a level he refers to as “$0.1 million” in his post. Moreover, Mow sees this as merely a stepping stone, envisioning Bitcoin eventually reaching the $1 million mark.
Mow’s optimism is based on the current market dynamics. He points out that the buying levels compared to the available supply are high. This imbalance, he believes, has kept Bitcoin’s price artificially low for an extended period.
He stated, “It’s a miracle that Bitcoin stayed below $0.07M for so long.” This observation underscores his belief that the market is primed for a substantial upward movement.
Bitcoin’s performance lends credence to these predictions. Atpublication it trades at $70,724.72 reflecting a robust 2.58% increase in the last 24 hours and a 4.12% gain over the past week. Furthermore, the substantial trading volume of $30.5 billion demonstrates strong market interest and liquidity, supporting the potential for rapid price appreciation.
Analyst Predicts Major Altcoin Gains: Key Events to Boost Market VolatilityAdditionally, Bitcoin’s potential surge is expected to ripple across the cryptocurrency market. Another industry analyst known as Charting Guy shares this bullish outlook. He predicts a new Bitcoin ATH could occur soon this week. Consequently, he foresees this event, sending shockwaves through related assets such as COIN and mining companies.
Charting Guy’s forecast extends beyond the immediate future. He anticipates Bitcoin reaching between $85K and $100K by late June or early July. This prediction aligns with Mow’s perspective, adding that BTC’s ascent to $100K is highly probable.
