Positive Bitcoin Forecast: Expert Anticipates BTC Will Not Dip Below $100K Next Year
Bitcoin (BTC) approaches the $100,000 mark, currently trading around $94,340 after a slight 0.4% decrease. Following a sell-off in April that saw prices drop to $74,000, optimism is rising among investors. Analyst Doctor Profit predicts Bitcoin will not fall below $100,000 in the next year, citing a 25% increase since his entry point at $77,000 and a breakout above the key resistance level at $85,000. Significant inflows into Bitcoin exchange-traded funds (ETFs), totaling nearly $1 billion in one day, indicate strong institutional interest. A decline in Bitcoin's liquid supply and warnings of a potential supply shock from firms like Fidelity further enhance bullish sentiment. Additionally, inquiries from governments about Bitcoin reserves suggest its growing recognition as a strategic asset. Doctor Profit remains confident that Bitcoin could reach $100,000 and potentially set a new all-time high soon, with upcoming Federal Open Market Committee meetings expected to impact market dynamics.
