Bitcoin Price could hit $50K Analyst Says

Wall Street, New York
Could institutional interest from Wall Street give Bitcoin a boost?

Price is already bottomed and won’t drop below $6,000 analyst claims, and describes buying spree of Bitcoin by institutions as a “land grab.”

Adamant Capital founder, Tuur Demeester, has asserted that Bitcoin’s price has already bottomed out. According to him, there won’t be anything “insane” happening if the cryptocurrency’s price spikes to values between $50,000 – $100,000.

Bitcoin crashed to a low of $3,800 on March 12, but was able to recoup its the losses via a 150% rebound that saw it touch $10,100 pre-halving. A minor pullback sent it back to lows of $8,100, but in filling one of the largest CME Futures gaps in its history, Bitcoin climbed above $10k again.

Although bulls have struggled to reclaim the $10k apex, which incidentally has been breached twice in the space of a week, analysts say Bitcoin’s bullish sentiment has never been this strong, not since the run-up to its all-time high (ATH) in 2017. Many analysts and crypto personalities have bet on Bitcoin going on a major rally in the near term.

Now, Demeester has added to the voices predicting Bitcoin’s could soon hit a new ATH.

In a video posted on YouTube, Tuur Demeester says that Bitcoin already touched its bottom in the $3000 – $4000 range. He argues that the cryptocurrency is bullish again and that economic bailout plans, such as that by the Federal Reserve, have the potential to work in Bitcoin’s favour.

I think a price target of like $50,000 is not insane at all… I would even say between $50,000 – $100,000,” he noted.

A “Land Grab” for institutional investors

Demeester’s forecast comes at a time when interest in CME Bitcoin options rose to their highest level at close to $150 million.

According to Demeester, interest from institutions meant Bitcoin was entering a “land grab phase.”

He noted on Twitter that “bitcoin broke out of its accumulation phase,” a year ago and that increased whale accumulation could see Bitcoin break out for another “parabolic rally.”

Bitcoin Price could hit $50K Analyst Says 1
A screenshot showing bitcoin’s accumulation and re-accumulation phases/ Twitter

The crypto influencer also pointed to Bitcoin’s entry into a “deployment phase” that has already seen banking giant, JP Morgan Chase, make a U-turn regarding its view of cryptocurrencies to extend its banking services to two US-based cryptocurrency exchanges.

According to Demeester, it’s the increased interest from family offices, hedge funds, Wall Street billionaires, and other big-money investors that could see Bitcoin spike to prices above $50k per Bitcoin.

Last week, hedge fund pioneer and investment billionaire, Paul Tudor Jones, said that his company was buying Bitcoin and he was allotting 1-2% of his company’s portfolio to crypto holdings. The TIE, a crypto data platform, this week pointed out that Bitcoin’s post-halving sentiment had soared to new highs, aided by famous author JK Rowling, who took to Twitter to enquire about the cryptocurrency.

About the author

E-Crypto News was developed to assist all cryptocurrency investors in developing profitable cryptocurrency portfolios through the provision of timely and much-needed information. Investments in cryptocurrency require a level of detail, sensitivity, and accuracy that isn’t required in any other market and as such, we’ve developed our databases to help fill in information gaps.

Related Posts

E-Crypto News Executive Interviews

Automated trading with HaasBot Crypto Trading Bots

Crypto Scams

Millions in Cryptocurrency Stolen by Scammers in the Last Month According to Tenable Research
November 24, 2021
Behind The Scenes: How this Crypto Community Responded to + $50m Hack
October 18, 2021
Crypto Scams
Crypto Scams Still Persistent In 2021, SEC Warns About Red Flags To Watch
September 9, 2021
Poly Network
Here’s How Hackers Stole Over $600 million in the Poly Network Attack
August 12, 2021
The World’s Most Infamous Crypto Hacks and Scams
July 31, 2021

Blockchain/Cryptocurrency Questions and Answers

Crypto casinos
How Does Bitcoin Casino Work + 2021 Beginner’s Guide
November 8, 2021
How to Buy and Sell Cryptocurrency
November 8, 2021
What Are Bitcoin Futures And How Will They Work In 2022?
November 4, 2021
The Unconventional Guide to Ethereum
October 28, 2021
ICo Presale
The Science Behind ICO Presales…
October 14, 2021

CryptoCurrencyUSDChange 1hChange 24hChange 7d
Bitcoin49,272 0.25 % 0.12 % 13.81 %
Ethereum4,294.6 0.33 % 0.34 % 6.43 %
Binance Coin591.90 0.22 % 1.83 % 5.68 %
Tether0.9986 0.03 % 0.08 % 0.23 %
Solana187.83 0.08 % 0.38 % 18.14 %
Cardano1.360 0.02 % 1.28 % 12.00 %
XRP0.9136 0.67 % 11.59 % 7.75 %
USD Coin1.000 0.14 % 0.20 % 0.17 %
Polkadot30.87 2.19 % 17.29 % 10.73 %
Terra71.00 1.22 % 3.80 % 10.39 %

Bitcoin (BTC) $ 49,450.00
Ethereum (ETH) $ 4,318.67
Binance Coin (BNB) $ 593.13
Tether (USDT) $ 1.00
Solana (SOL) $ 188.69
Cardano (ADA) $ 1.37
XRP (XRP) $ 0.916536
USD Coin (USDC) $ 0.999808
Polkadot (DOT) $ 28.78
Terra (LUNA) $ 71.55