Bitcoin could reach $100,000 says analyst

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Bitcoin owners will hope that a prediction by ThinkMarkets chief market analyst Naeem Aslam comes true. He told Fox News on 24th June that the leading cryptocurrency “will hit somewhere between $60,000 and $100,000 during its next bull run.”

Previously, on the 17th June, Aslam had said that BTC would hit $10,000 in “a couple of weeks,” citing institutional involvement as a major driver. Today, BTC is valued at over $11,000 — so that prediction was correct.

Aslam told Fox Business News that the next price points to look out for are $20,000 and $50,000. According to Cointelegraph’s report, “He argued that by hitting $20,000, discussion will move from conservative estimates exceeding the number one cryptocurrency’s all-time high to forecasts of $50,000; from there, breaking $50,000 will move the price target to $100,000.”

He also believes that bitcoin is a means of avoiding risk and he compared bitcoin with gold. He remarked that in the last two months there has been a huge spike in price for these two assets. He attributed this to a lack of confidence in the stock market alongside the ongoing US trade war with China.

Unrest in the Middle East, with the US-Iran conflict gaining momentum, is another driver of assets such as bitcoin and gold. Plus he asserted that bitcoin has now become a recognised store of wealth, claiming there is evidence that investors are “parking” their capital in the leading crypto.

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