Mike Alfred, a venture investor and formerly a founding CEO at BrightScope and Digital Assets Data, has shared a condition that, he believes, would indicate Bitcoin's further rise toward the $150,000 level.
He believes that in order to reach the triple-digit price mark, the flagship cryptocurrency first has to retake $23,133 and fix above it. After that, he tweeted, "$150,000 becomes inevitable. Just math."
Over the past 24 hours, the leading digital currency, Bitcoin, has demonstrated a rise by 1.82%, jumping from $22,691 to the $23,105 level on the Bitstamp exchange.
If Bitcoin can re-take $23,133, then $150,000 becomes inevitable. Just math.— Mike Alfred (@mikealfred) January 31, 2023
$100,000 per BTC predicted by Ari Paul
A similar forecast has recently been shared by Ari Paul, founder of the BlockTower Capital crypto hedge fund. His target price was a little lower, though - $100,000. He expects BTC to follow his prediction by the end of 2024.
The main reason for that, he believes, could be a large inflow of funds from conventional financial institutions as exposure to crypto assets has been growing recently, e.g., Grayscale Bitcoin Trust.
He also reckons that should markets turn out to be risk-on, as was the case two years ago, in 2021, then his prediction of Bitcoin hitting $100,000 would be rather conservative.
Peter Brandt shares his Bitcoin price target
Veteran commodity trader Peter Brandt has recently shared that he spotted an extremely rare "double-walled fulcrum pattern" on a Bitcoin chart. As mentioned by U.Today earlier, this pattern seems to be Brandt's own invention, as it is not on the list of traditional patterns traders use.
Spotting this formation on the chart, Brandt stated that his goal for Bitcoin is $25,000.