Bitcoin to hit $100,000, says consulting CEO

After months of severe declines, Bitcoin has finally resumed its upward movement towards a new historic high, potentially reaching $100,000 later this year. At least that’s what says Michael Gronager, CEO of Chainalysis, a North American cryptoactive research and analysis company.

Optimistic, Gronager shared his prediction in an interview with Bloomberg, stating that the market is still going through a period of high: “in the bear market, many interesting things were built and this basically facilitates a new bull market”, he contrasts, pondering.

According to Gronager, it is enough to check the past of cryptoactives to confirm the current high period: “for most cryptocurrencies like Bitcoin and Ethereum — the most stable ones — we just need to see this trend, where they grow year by year”, because, “at sometimes they grow faster than others,” he says.

Bitcoin already accumulates 74% high this year and adds 369% profit in the last 12 months.  (Source: Tieusuphu / Reproduction)Bitcoin already accumulates 74% high this year and adds 369% profit in the last 12 months. (Source: Tieusuphu / Reproduction)Source: Tieusuphu

With an increase of 74% only this year (in the accumulated) and almost 369% appreciation during the last 12 months, which include the fall, Bitcoin seems to walk according to Gronager’s forecast. Currently, the cryptocurrency trades above the important support zone of US$50,000 and is looking to overcome its resistances towards the historic top of US$65,000, around R$337,530 in direct conversion, formed last April.

Good-naturedly, Gronager says: “In the long run, you usually say that the moon is the limit — we can also go beyond that,” he concludes.