$BTC
Bitcoin is heading towards a bullish potential that could reach 100,000
The recent recovery of Bitcoin, the digital currency, could take it back toward $100,000 as oversold conditions and seasonal trends become more supportive, according to BTIG.
Bitcoin has fallen 36% from its peak, but it is now in an oversold state and entering a period that has historically marked a turning point.
"We believe that Bitcoin is now poised to continue its rebound at least towards $100,000," said Jonathan Krinsky from BTIG.
The average seasonal pattern shows that the cryptocurrency tends to reach a bottom and gain momentum until the end of the year.
