Strategists of institutional investor-focused market research firm Fundstrat have forecasted Bitcoin price and shared the next bullish target for the leading cryptocurrency. They think this target could lead Bitcoin to test the $89,000-90,000 price level.
Fundstrat reported in its report on Wednesday that after breaking the $65,000 level, Bitcoin will likely test $72,500 and then continue to test $89,000.
Earlier this week, Bitcoin hit an all-time high of $66,930. The rally is thought to have been fueled by the anticipation of the BTC ETF launch. Also, big crypto holders, known as whales in the market, buy Bitcoin and move the coins to their cold wallets for long-term storage.
Not only Fundstrat strategists think that Bitcoin will take flight. As we reported at the beginning of the week, Fairlead Strategies Founder Katie Stockton predicts that Bitcoin may reach $89,800 in the future.
Many experts, including Alexander Hoptner, the new head of BitMEX, who also recently shared his opinion with Bloomberg TV, expect Bitcoin to reach $100,000 by the end of 2021.
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.