Specialists of the research company Fundstrat came to the conclusion that the current level of the bitcoin price, which is above the $ 45 thousand mark, means that there is a high probability of significant positive market dynamics for this asset.
Thus, the chief strategist of Fundstrat David Grieder said that the company is guided by the achievement of bitcoin by the beginning of 2022 the level of $ 100,000 .
Speaking of growth drivers, Greader noted an increase in fears among institutional investors that they might miss out on buying bitcoin before it appreciates further. In addition, fears widespread among representatives of global finance that the US dollar will noticeably weaken play in favor of Bitcoin.
Finally, the overall growth of the global stock market since the beginning of this year indicates a great optimism of investors, which is likely to have a positive effect on the price of bitcoin.
In our 2021 crypto outlook report two weeks ago we raised our target on #BTC from $40k to $100k and cited corporate purchases and Bitcoin being the next #Tesla of FOMO as two of the 20 reasons we’re bullish. pic.twitter.com/62qv21bTR2
— David Grider, CFA (@David_Grid) February 9, 2021
Indeed, since the beginning of the year, the Nasdaq index has added 9%, the S&P 500 has risen by 5%. If we consider that the S&P 500 gained only 21% over the entire last year, then a 5% increase in just over a month indicates that one of the key indicators of the largest stock market in the world (American) is now in stronger positive dynamics. than a year ago.
However, Fundstrat sees growth potential not only in Bitcoin. The company’s experts believe that Ethereum will be able to test the $ 10,500 level in 2021. David Grieder believes that Ethereum has the best “metric that correlates the degree of market risk with the return on investment” when comparing Ethereum to all other types of digital assets. …
Grieder is confident that various companies will invest in cryptocurrencies such as Bitcoin and Ethereum, noting that organizations are attracted to the innovations that are behind the phenomenon of digital assets.