Main navigation

Bitcoin Next Test Level is $90,000: Fundstrat

News
Fri, 10/22/2021 - 07:32
article image
Yuri Molchan
After reaching a new all-time high, Bitcoin is likely to test $90,000, Fundstrat strategists believe
Bitcoin Next Test Level is $90,000: Fundstrat
Cover image via stock.adobe.com

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Read U.TODAY on
Google News

Bloomberg has reported that strategists of Fundstrat have shared the bullish path the flagship cryptocurrency is likely to take next.

They reckon this path may lead Bitcoin to testing the $89,000-$90,000 price mark.

In its Wednesday report, Fundstrat said that after breaching the $65,000 level, Bitcoin is likely to test first $72,500 and then move on to testing $89,000.

Earlier this week, Bitcoin reached a new all-time high of $66,930. The rally took place on the anticipation of the BTC ETF launch, followed by its actual rollout by ProShares on the New York Stock Exchange. Besides, large crypto holders, widely known as whales on the market, have been purchasing Bitcoin and moving it off exchanges to their cold wallets for long-term storage.

Related
Binance.US Names Real Reason Behind 87 Percent Bitcoin Flash Crash

Many experts are expecting Bitcoin to reach $100,000 by the end of 2021, including the new chief of BitMEX, Alexander Hoptner, who shared his take with Bloomberg TV earlier today.

article image
About the author

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at yuri.molchan@u.today.