Bitcoin has officially crossed the $100,000 milestone for the first time, and analysts are buzzing with predictions about what this means for the future.
One expert believes Bitcoin won’t be hanging around this psychological level for long, as its breakthrough is set to attract a lot of attention and push prices even higher.
A new era for Bitcoin
Nick Forster from Derive shared his thoughts, stating that he doesn’t expect Bitcoin to consolidate much around the $100K threshold.
After hitting an all-time high of $73,679 in March, Bitcoin spent the next seven months bouncing between $53,000** and **$72,000.
Now that it’s broken through that psychological barrier, things are about to get interesting.
“BTC is still a memetic asset. These psychological barriers draw attention and headlines, which in turn attract new market participants and shift the perspectives of those already involved.”
Hello Mr. Gainzy!
At the time of writing, Bitcoin was trading at around $102,000, and the popular trader Matthew Hyland chimed in on X, suggesting that the next target is $114,000. He urged followers to seize the moment.
„This is where it begins for Crypto. You have a 3-5 month window. Take advantage.”
Futures traders seem to be feeling optimistic too, maybe a little too much, because there’s about $1.54 billion in long positions at risk of liquidation if Bitcoin dips back below $100K.
Meanwhile, Bitcoin’s open interest has jumped by 5.14% in just 24 hours to reach $61.18 billion.
Altseason
Forster also sees a shift toward altcoins on the horizon, especially for ETH, which he noted has been lagging behind in the market.
Historically, Ethereum tends to outperform Bitcoin after hitting previous all-time highs or bigger milestones.
Crypto analyst Miles Deutscher echoed this sentiment, stating that as Bitcoin’s price climbs higher, alts preparing.
“The bigger the climb, the bigger the altcoin run will be. I’m salivating!”
Another influencer, Dan Held took to X to remind his followers that hitting the $100K level isn’t just about numbers, it signifies a major moment of adoption for Bitcoin.
“It represents that the world is gradually acknowledging Bitcoin as the reserve currency of the future.”
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