Not long ago, Live published a story suggesting that Tom Lee of Fundstrat fame was suggesting a $100,000 year-end price for bitcoin when 2021 reached its final days. Now, it looks like several other analysts agree, and believe six figures for the world’s number one digital currency in the next four months doesn’t sound so outlandish.
Bitcoin Headed to the Moon!
Meltem Demirors – the chief strategy officer at the crypto fund provider Coin Shares – took notice of bitcoin’s recent surges and bullish behavior in a recent interview and was quick to say that bitcoin could potentially hit a new high by the time citizens are prepared to say hello to the year 2022. He said:
It’s roaring back. Many investors perceive this as positive news and a positive catalyst because it’s clearing up a lot of the confusion or some of the uncertainty, and I think what’s being demonstrated as well is that the crypto community is no longer some esoteric corner of finance.
Mike McGlone – an analyst with Bloomberg Intelligence – also rang in, claiming:
It’s still got plenty of room to get to the old high, and guess what? If it just follows Ethereum, it goes to $100,000.
During his recent discussion, Lee mentioned that if bitcoin should move past its average price over the last 200 days, then the time to buy has arrived. He commented:
With bitcoin crossing above its 200D, we think bitcoin will rally strongly.
At press time, bitcoin appears to be surging despite a pushed infrastructure bill that appears bent on taxing the hell out of crypto investors and those who engage in transactions. Under normal circumstances, it seems like a maneuver like this would likely cause the world’s number one digital currency to take a few steps back, but the currency seems to be moving up following the news.
Emilie Choi – president and chief operating officer at Coinbase Global Inc. – seems to believe that the new taxation and regulatory tactics Congress is trying to implement could potentially be good for bitcoin. She states:
Crypto is going to be a major source of tax revenue to fund infrastructure. That is a very positive thing. It’s no longer a fringe thing. Crypto has ultimately entered the mainstream here. This was a setback, there’s no doubt about it for this past week, but we’re playing the long game, here.
Strange Behavior Considering the Verbiage of the Bill
Kristin Smith of the Blockchain Association says she was totally surprised to see bitcoin rise like it did during the fight surrounding the infrastructure bill. She commented that she thought the opposite would have likely occurred:
I do not understand prices. I thought prices would be tanking because of the bad language that some suggested out there. People are seeing the effectiveness that the crypto community and the crypto industry has in Washington.