Crypto analyst Ash Crypto expresses confidence that Bitcoin's price could reach $100,000 before the year ends, supported by historical patterns and economic conditions. Past halving cycles suggest a price breakout post-consolidation, witnessed previously in 2016 and 2020.
He highlights global economic developments, such as China's $280 billion stimulus, impacting Bitcoin's bullish trend historically. Additionally, US rate cuts could increase capital availability, fostering Bitcoin's liquidity and inflow.
The Bank of Japan's dovish stance augments favorable conditions for Bitcoin, averting rate hikes that previously affected crypto markets negatively. Ash argues that this could lead to risk asset, such as Bitcoin, appreciation.
Political developments further support this outlook. Trump's favorable stance towards cryptocurrencies and potential electoral win could boost market confidence in Bitcoin. Furthermore, recent accumulation activity of Spot Bitcoin ETFs indicates reduced selling pressure.
Changes in the crypto payment landscape, notably Russia's acceptance from November, alongside increasing global money supply, provides a positive market setting for Bitcoin. Ash asserts that while the market hasn’t yet fully priced in these drivers, doing so could push Bitcoin to new all-time highs.
