You may have noticed that Bitcoin is making news again these days if you are also interested in the cryptocurrency space. The entire world’s attention was focused when it shattered the record and reached $122,871 on Monday. The only issue left is whether this adventure will end here or if Bitcoin will eventually reach $135,000.
Historic breakout and new hopes
After nearly two months of calm, this surge of Bitcoin seems like a forgotten dream. Katie Stockton, founder of Fairlead Strategies, told CNBC that her company prepares “measured move projections” based on this breakout. According to her, this rally can reach $135,000 before any major correction comes.
There is assurance that $130,000 will be exceeded
Many research firms and technical analysts concur with this forecast, according to Cointelegraph. According to Markus Thielen, the July 10 breakout signal has historically produced an average rise of 20%, which may push Bitcoin over $133,000. The next major goal in this cycle, according to LVRG Research director Nick Ruck, will be $150,000.
There are still no common investors in the market
It is remarkable, nevertheless, that regular investors, or retail investors, are still not participating in this massive Bitcoin rise. Coin Bureau founder Nick Pakarin claims that institutional investors are the only ones driving this boom. Additionally, Google search trends and rankings for cryptocurrency apps do not show retail presence.
He thinks that when Bitcoin approaches $150,000, the “Fear Of Missing Out” (FOMO) effect would begin to manifest among regular investors as well.
Bitcoin rises as the world’s fifth-largest asset
With this latest surge, Bitcoin’s market capitalisation has surpassed Amazon to reach $2.4 trillion, making it the world’s fifth-largest asset. However, its Opportunity Fund co-founder James Lavish thinks it is still far smaller than other conventional asset classes, including bonds, gold, stock, and real estate.
Is the Bitcoin boom just getting started
The current surge might mark the start of a new era rather than just a bullish trend. Despite the market’s continued volatility and the potential for a correction, one thing is evident from current technical indications and analyst forecasts: Bitcoin may reach $135,000 next.
The most intriguing aspect, though, is that regular investors haven’t joined the battle yet. And this rally might get even more heated when they do.
Disclaimer: The information given in this article is for general information purposes only and should not be taken as any financial advice. The cryptocurrency market is volatile, and investing in it is subject to risk. Be sure to consult an expert before investing.
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