The price of Bitcoin has recently soared to new heights, sparking discussions about whether there's more upward potential. Despite Donald Trump’s election influence, Bitcoin's growth is now seen as independent. Some experts remain cautious, suggesting the rally could end soon.
CryptoQuant, a prominent on-chain analytics firm, argues that Bitcoin's price still has room to grow. They rely on metrics like the Market Value to Realized Value (MVRV) ratio, which indicates Bitcoin isn't overvalued, suggesting it might soon reach $100,000.
Additionally, the Trader On-chain Realized max band also forecasts the $100,000 mark for Bitcoin, last predicted during its rise past $70,000 in March 2024. Observations of investor demand in the U.S., particularly post-election, are also encouraging for Bitcoin's future prospects.
Moreover, rising crypto market liquidity and stablecoin influx into exchanges, such as $3.2 billion USDT post-election, bolster expectations of sustained Bitcoin rally. However, CryptoQuant cautions that despite some Bitcoin miners selling assets, the current selling pressure is minimal and could rapidly escalate.
As Bitcoin hovers around $91,270, up 19% in a week, the situation remains dynamic. The cryptocurrency's recent behavior reflects its complexity, with potential and risks requiring careful consideration.