The Bitcoin price increased constantly, spreading huge gains over the best altcoins. Last year, the captain of the encryption market made more than 15 % on other assets, and expanded the gap between altcoins. However, the next level of most of the bulls still strikes a mark of $ 150,000 in this session. Last year, the BTC price reached many high levels at all, from the first quarter to 73 thousand dollars to 107 thousand dollars after the US presidential elections.
Souk Loor Projects 3 trillion dollars for the next stage
Digital asset analyst, Perseval, has hinted that Bitcoin’s price to take advantage of $ 150,000 must increase the maximum asset market to $ 3 trillion. The market ceiling in BTC is currently over $ 2 trillion, while its price is trading at $ 98,039. On the other hand, the maximum of the broader Crypto market decreased by 5 % to $ 3.48 trillion, which represents another flash correction.
According to the report, with Bitcoin improved structural dynamics, bullish nails remain in this mixture, along with the broader acceptance of central financing players. The 2021 operating cycle scheme is needed to run to hit the mark with increased pressure. In 2021, the market ceiling increased by 470 % to the highest new level ever, while this course recorded only 111 % growth. This leaves a way for more growth as well as feelings that support $ 150,000 with the highest expected trillion dollar ceiling.
“By tracking Fibonacci’s expansion from the bottom in November 2022 (15,450 thousand dollars) to our unification in 2024 (48,934 km), we draw a target between 136 thousand dollars and 150 thousand dollars, and meets with the investigators scale, which explains We have the same image regarding the money that was invested in Bitcoin (for example: I have 1 BTC purchased at a price of 50 thousand dollars and I will sell at $ 100,000, which means a gain and net of $ 100,000 in Bitcoin), and it becomes a good measure of the following resistance in Bitcoin , ” Perseval added.
Bitcoin Etf is still a lifeline
Perseval explained that the investment funds circulated in Bitcoin in the United States remain possible pulses for retail investors and institutions. To date, $ 40 billion of flows of these funds represent 4.7 % of the maximum achieved market, and with the rise in traditional investors ’appetite, holders of more flows expect.
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Bitcoin’s investment funds have provided new players to the market, diversifying their governorates and entering another layer of legitimacy. Moreover, the successes of these products led to multiple ALTCOIN applications. However, some total tensions and interest rate concerns are a threat to expected gains.
Source: https://zycrypto.com/bitcoin-needs-3-Trillion- Market-cap-to-pierce 150000-report/