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Analyst believes Bitcoin price will still hit $100,000

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TL;DR Breakdown

  • Analyst predicts Bitcoin price will hit $100,000 by 2023.
  • Consensus prediction holds that Bitcoin can’t hit $100,000 2021 again
  • Analysts sights Omicron, spoofing as reason BTC won’t see any significant again in 2021.

Bitcoin bull and Chief Market Strategist at InTheMoneyStocks, Gareth Soloway, has predicted that Bitcoin price would still surge to $100,000 but said it may arrive at that level in 2023.

While attributing his prediction to history, Gareth said Bitcoin is still primed for a further pullback, after which price will enter into an even more difficult stretch that could go on until 2023.

“BTC tagged support at $52k. Note the attached chart. Big level here. If this gives way, it goes to $48K. While I love the long-term upside, near-term, the charts tell all. The crazies were pushing the 100k narrative in 2021, still not seeing it til likely 2023,” he says.

Bitcoin to drop to $18 – $20,000 region

According to Gareth, back in August, he predicted that Bitcoin price will slump to $20,000, sighting Bitcoin’s “unbacked” ascent.

“One of the things that I have talked about is that Bitcoin will eventually get to the $18k-$20k mark. There is really no question in my mind,” he had said. He also warned people against buying into April’s highs in October, citing it as a possible landmine.

How 2021 $100,000 Bitcoin price prediction failed

As it is, the crypto community is coming to terms with their failed Bitcoin Price prediction after virtually all their predictions for a bullish Q4 keeps fading into oblivion.

Their prediction got punctured after the market fell into a shorting frenzy on Saturday morning, sending Bitcoin below $43,000 in yet its largest selloff in over four months.

Pundits like PlanB and Willy Woo have temporarily shelved their predictions on the asset hitting $100,000 before year-end, citing a myriad of factors, including the Omicron fright and possible spoofing by whales on major exchanges.

Muhaimin Olowoporoku

Muhaimin Olowoporoku

Muhaimin loves writing on crypto news aside from being a crypto enthusiast. He has a knack for analysing issues and updating people on what's happening around the globe. He believes that blockchain and cryptocurrency are the most useful systems of mutual trust ever devised.

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