Bitcoin Over $100,000 Is Still Possible By Year-End, Says Research Analyst

Bitcoin has made a number of marked recoveries in its price lately. The most notable of this recovery has been the break above $57,000. This effectively set a new four-month high, hitting price points that have not been reached since the market had peaked in May. It is no doubt that the bulls currently have control of the market and investors’ sentiment is very positive with this. But CrossTower research analyst Martin Gaspar thinks this may only be the beginning of the rally. It would seem the analyst is in the camp of investors who expect the digital asset’s price to hit $100,000, which Gaspar says could very well happen in the three months left of 2021. Related Reading | Why A Parabolic Move Is Expected For Bitcoin, Billionaire Mike Novogratz Market Holding Steady The CoinMarketRecap podcast hosted CrossTower research analyst Martin Gaspar on its latest episode to talk about the future trajectory of the top cryptocurrency. Gaspar, who took a bullish stance on the digital asset, emphasized the asset’s growing scarcity as a good thing for its value going forward. Bitcoin’s scarcity is partly attributed to the increase in long-term holders of the asset. A reported 81% of the entirety of bitcoin’s supply is currently held in wallets that are holding for the long-term, also referred to as diamond hands. And this has put significant buy pressure on the market as bitcoin heads into a historic supply squeeze. Gaspar also comme...