Despite Bitcoin’s rise above $ 45,000 on August 8, the cryptocurrency is still far from its price high two months ago. Nevertheless, the crypto community has no doubts that a return to ATH of $ 64,000 will certainly take place, moreover, during the next bullish rally, BTC quotes will reach $ 100,000.
Bloomberg’s latest report shares this view and predicts a bullish trajectory for Bitcoin :
«We see parallels in movement that could push the mainstream cryptocurrency to the $ 100,000 mark. Supply is shrinking and demand and acceptance are growing in most countries that welcome open discourse and free market capitalism.»
This is confirmed by the purchase by Fidelity of a 7.4% stake in Marathon Digital Holdings, one of the largest Bitcoin mining companies in North America. Both organizations have been strong supporters of BTC since their inception.
The confidence of companies is accompanied by growing acceptance among large states. For example, Spanish lawmakers are considering a document that will allow mortgage payments to be made using cryptocurrencies.
This would be huge if it gets passed! #bitcoin
– Lark Davis (@TheCryptoLark) August 4, 2021
Recently, a Uruguayan senator introduced a bill allowing the use of cryptocurrencies for payments. The bill is aimed at ensuring the «legal, financial and tax security of businesses related to the production and commercialization» of cryptocurrencies.
In addition to this, US SEC Chairman Gary Gensler expressed the openness of Bitcoin ETFs , but under certain conditions.
«ETFs that comply with the SEC’s strict rules for mutual funds can provide investors with the protection they need ,» the official said.
This news gives strong reasons to believe that BTC will eventually grow to $ 100K. Crypto trader Lark Davis agrees with this opinion:
«I am completely confident that this will happen (BTC spike to $ 100,000), it’s just a question.»
Davis also decided to ask subscribers what their expectations of the prospects for bitcoin are and launched a survey on Twitter:
“If I gave you a million dollars in multiple assets held for 10 years, which would you choose?
Ray Dalio bet on gold, not bitcoin. I disagree with that, but it’s interesting to know what you think! «
If I gave you a million dollars worth of one of the following on the understanding that you have to hold it for 10 years, what would you choose?
Ray Dalio says #Gold , not #bitcoin , I disagree, but curious on your thoughts!
– Lark Davis (@TheCryptoLark) August 5, 2021
