With the BTC price above $38,000 on Friday (January 15), prominent crypto analyst Josh Rager thinks “Bitcoin sees a six-figure price by early 2022.”
According to data by TradingView, as of 09:35 UTC on January 15, on Coinbase, Bitcoin is trading around $38,469, up 0.7% in the past 24-hour period. So far in 2021, BTC-USD is up 32.77%.
Crypto analyst Josh Rager, who is also a co-founder of online crypto learning platform Blockroots, as well as an advisor to several blockchain startups, is generally quite conservative when it comes to price targets, but Bitcoin’s recent price action has him beieving that the Bitcoin will get to $100K by early 2022.
Popular crypto analyst Lark Davis also believes that the Bitcoin price will reach $100K, but he thinks it will happen before the end of this year.
In a video released today on his YouTube channel, Davis said:
“The options markets are currently pricing in a 20% chance that Bitcoin will hit $50,000 by the end of January…
“How do we actually get to a $50,000 Bitcoin? Where all those new buyers going to come from? Well, I’m glad that you asked because the Bitcoin supply crisis is continuing with just no end in sight…
“The supply issues though are already starting to hit some of these smaller exchanges. eToro, for example, is now warning users that crypto trading is going to start being limited over the weekends due to a surge in demand on the platform, and their inability to source enough crypto to meet that demand…
“That’s just insanely bullish news for cryptocurrencies — that’s incredible, guys. The demand is just so freaking high right now that some of these smaller exchanges can’t even get their hands on crypto quickly enough to meet their customers buy orders… That is bullish without a doubt….
“Will we see 50K by the end of January? It’s not the most likely scenario, but that price point only really becomes relevant, though, if you’re going to be trading it. For the stackers, just keep stacking, enjoy the price going up, obviously, but $50,000, it’s really not that crazy…. 100k minimum by the end of the year though.
Veteran global macro investor Dan Tapiero talked earlier today about how his 16-year-old daughter had just buying Bitcoin using the PayPal app. Tapiero believes that investing by stacking sats will become popular with Gen Z.
On Thursday (Jan 14), Mati Greenspan, Founder of FinTech and crypto consultancy Quantum Economics, noted that “the correlation between Bitcoin and the USD is now -0.15, its lowest reading in history.”
For those who are super bullish on Bitcoin and think that its price could go much higher than $100K by the end of 2021, crypto derivatives exchange Derbit yesterday delivered good news by announcing that it is now offering BTC call options (31 December 2021 expiry) with a strike price of $400,000.
The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice.