Closely followed crypto analyst Benjamin CowenAfter Bitcoin (BTC) hit all-time highs above $68,000, traders should also keep an important factor in mind when looking at the BTC chart.
Speaking in the new episode of the strategy sessions he shared via YouTube, Cowen said: BTCWhile . has already hit its all-time high (ATH) late last month, the breakout this week represents the first real record since April, according to the analyst.
Cowen, bitcoinHe argued that when forecasting the future price of .
“The whole idea is, you have to take the money supply into account. We know if trillions are printed… Then maybe we should consider that in what could theoretically be achieved for Bitcoin.
Maybe that means we can go even higher because we have more money in the system. If everyone was to receive an airdrop of $12000 in “altcoin” USD (US dollars) in the past, then we have to consider that some of these people might be buying BTC.
Bitcoin (BTC) has now reached an all-time high while taking the money supply into account.”
Analyst, without giving a specific timeline, Bitcoin’s 100,000 dollarsHe says he believes this market cycle will break the six-digit level.
“Generally, the direction is up. I believe Bitcoin will reach $100,000. We can achieve that in this market cycle.
I also don’t think we have to wait many years for Bitcoin to reach $100,000 at this point. I think we can reach these levels within this market cycle.
But it could also indicate that I think we’re going to go over $100,000. I don’t think $100,000 will be the top.”
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.