Hedge Fund CIO Believes Bitcoin Will Reach $100K In The Next Bull Run

Bitcoin by Blockspectator News  | 3 months ago
Bitcoin, BTC, Price Prediction
2 min read

Prominent Twitter personality Murad Mahmudov has delivered his Bitcoin price prediction. In a week where Bitcoin has been relatively silent compared to recent times, Murad decided to excite the crypto community.

$100,000 Coming Right Up

This is not the highest prediction we’ve seen so far this year, but it further strengthens other predictions as well.

The performance of Bitcoin this year in the crypto markets has excited many investors, giving hope to an industry that many thought would be on its death bed in 2019. The crypto winter was long and tough, filled with disappointments and a near $2,000 low for Bitcoin.

However, Bitcoin picked up as if it never left, growing stronger by the day until it surpassed $10,000 in June. Though its prices have been somewhat unstable, there has been a general increasing trend monthly. Currently sitting at $11,000, the $100,000 may seem like a pipe dream.

Reinforcements

The $100,000 figure is not derived from thin air; it is based on the assessment of Bitcoin’s performance in the past few months.

As aforementioned, there is indeed a steady accumulation in the value of Bitcoin. However, according to Murad, short-term losses are likely to happen. The $100,000 will only be realized in the long-run.

Other factors are supporting Murad’s statements which have been cited in numerous articles. These include the upcoming halving, the effect of Libra on the mainstream community, and a general increasing acceptance in cryptocurrency. These factors will likely positively influence the price of Bitcoin.

Murad further adds that there are numerous confluence points which suggest that patience will eventually pay in a big way. Even from the graph, it is clear that there is only one likely outcome based on the performance of Bitcoin since May.

Moreover, if Goldman Sachs is bullish about Bitcoin, isn’t that reason enough to at least assess the possibility of a long-term reward?

 

Featured Image Source: Teiss