Bitcoin will reach $100,000 next week 🧐
The price of Bitcoin surpassed $95,000, increasing the likelihood of a rally towards $100,000.
The demand from institutional investors has returned, suggesting that the bearish trend may have ended.
Some altcoins could surpass their respective resistance levels if Bitcoin remains strong.
Bitcoin bulls
BTC are trying to keep the price above $95,000, but they are likely to face significant resistance from the bears. Will buyers be able to push the price towards the psychologically important level of $100,000, or is a pullback near? That is the big question on traders' minds.
A positive sign is that inflows for spot Bitcoin exchange-traded funds in the United States have increased since April 21, according to data from Farside Investors. The head of strategy at Coinbase Institutional, John D’Agostino, said in a recent interview with CNBC that several institutions bought Bitcoin in April to hedge against monetary inflation and macroeconomic uncertainty, as Bitcoin reflects "the characteristics of gold."