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Bitcoin remains king – what speaks for a new all-time high in the Bitcoin price?

The crypto trader Pentoshi assumes that the Bitcoin price will soon see a correction to 40,000 or 42,000 US dollars. At the same time, trader Lark Davis declares that the BTC price will rise to $ 100,000 by the end of the year.

A look into the crystal ball reveals to us … that even with the best charts we cannot predict the exact future of the Bitcoin price. Still, it doesn’t hurt to grapple with the market sentiment surrounding the alpha cryptocurrency.

Pentoshi explains on Twitter:

“This year I will be working with a strong rotation focus of $ BTC for the first time. 40-42k is our new HL. And Bitcoin is making its way to new ATHs. He will remind everyone who the king is. “

So far, the oldest cryptocurrency has been able to defend its place as “king” effortlessly against aspirants to the throne such as Ethereum. While the Ethereum price is around $ 3,000, the Bitcoin price is currently around $ 45,000 – a completely different league. And in terms of market capitalization, Bitcoin remains unbeaten at $ 850 billion, leaving Ethereum’s market capitalization of $ 358 billion behind. In terms of trading volume, Ethereum is about to overtake Bitcoin, as the data from Blockchaincenter show.

Bitcoin price at $ 100,000?

While Bitcoin has fallen more than 700 US dollars in the last few hours, the Ethereum price also recorded a decline of 125 US dollars.

Bitcoin Price: A picture from CoinMarketCap
Ethereum Price: A picture from CoinMarketCap

For the Trader Lark Davis it is clear that the Bitcoin price will present a new all-time high this year:

“Bitcoin will rise to 100k this year.”

And Lark Davis is not alone in making this assumption. The crypto trader PlanB also uses its stock-to-flow model to explain that the Bitcoin price could land at 100,000 US dollars by the end of the year:

“I wouldn’t be surprised if I saw $ 100,000 before Christmas this year and then the bull market extended toward $ 288,000 or maybe $ 500,000 in 2022.”

But what would a new all-time high mean for altcoins? As soon as the Bitcoin price picks up, the Altcoins follow suit – albeit at a slightly different time. This is how we have seen it in the last few bullcycles. The London Hard Fork has complained about a significant price increase on Ethereum, but it is questionable whether ETH will overtake BTC in price in the next rally. And there is a lot to be said for new all-time highs – the general progress of crypto adaptation, the increasing use of the Lightning Network and the growing awareness of people about the current inflation of fiat currencies (to name just three factors out of many …).

Disclaimer of liability

All information contained on our website has been researched to the best of our knowledge and belief. The journalistic contributions are for general informational purposes only. Any action that the reader takes based on the information found on our website is entirely at your own risk.

Hasan Sheikh
Hasan, who loves technology and games, is studying Computer Engineering at Delhi JNU. He has been writing technology news since 2016.


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