A crypto analyst predicts that Bitcoin won’t linger long around the $100,000 level now that the “psychological” barrier has been broken, as the moment will gain widespread attention.
Bitcoin has hit $100,000 for the first time, but analysts say it won’t stay there long as breaking the psychological price barrier is expected to attract more attention and drive the price even higher.
“I don’t think it’s likely we see too much consolidation around 100k,” Derive founder and crypto analyst Nick Forster told Cointelegraph. After Bitcoin (BTC) reached an all-time high of $73,679 in March, it consolidated within a wide range of $53,000 and $72,000 for the next seven months.
“BTC is still a memetic asset, and these sorts of psychological barriers tend to draw attention and headlines which draw in new market participants and change opinions of existing participants,” Forster said.
