Can Bitcoin reach $ 100,000 this year? Analysts see positive catalysts for a possible increase in price.

Can Bitcoin reach $ 100,000 this year? Analysts see positive catalysts for a possible increase in price.

Bitcoin remains in a tight range between $ 29,000 and USD 31,350, which leads to high volatility. In view of the increased interest of investors and enthusiasts, the question arises whether Bitcoin can achieve $ 100,000 this year.

A analyst from K33 Research believes that several positive catalysts are emerging that could increase the Bitcoin price significantly. In particular, it highlights the summer as a main crumbs period and is optimistic because Bitcoin is traded over $ 30,000.

A positive catalyst is the resuscitation of the institutional interest in Spot-Bitcoin ETFs. This is confirmed by Bitcoin as a practical and solid investment alternative and thus creates the prerequisites for an exciting market in the coming months, which may have a significant impact on the BTC price.

When analyzing the Bitcoin-Preischart, unsuccessful attempts were found to overcome the resistance brand of USD 31,000, which led to a downward correction. The breakthrough of an interest bully trend line led to a decline below $ 30,250. Bitcoin currently consolidates losses near the 23.6%fibonacci retracement level and is both below $ 30,800 and below the simple, sliding 50-day average.

The immediate level of resistance is around $ 30,600 and $ 30,750, followed by the simple sliding 50-day average. In order to test the $ 31,000 mark again, Bitcoin would have to exceed the 50%fibonacci retracement level. However, if the resistance mark of USD 31,750 is not broken, the downward movement could continue. The support is around $ 30,150 and the youngest low, with the main support of around $ 30,000. Further losses could possibly press the price towards $ 29,550 or even into the range of USD 29,200.

It is also important to remain informed about other cryptocurrencies. A list of the 15 digital assets that should be kept in mind in 2023 can provide valuable insights and professional recommendations for investors who want to find their way around the world of digital assets.

Although the potential of Bitcoin, reaching $ 100,000 this year, is speculative, positive catalysts and market dynamics indicate considerable price movements. As with every investment, however, it is important to carry out thorough research, take market risks into account and make well -founded decisions.