A crypto analyst is super bullish on Bitcoin and thinks it’s going to hit a new all-time high of $100,000. He’s got some reasons why he thinks this is going to happen.
Why Bitcoin Will Reach $100,000
This analyst, Scott Melker, thinks this bull market is different from the past. He says that before, people were either super pessimistic or super optimistic about Bitcoin. Now, things are looking more positive, and real things are happening that support Bitcoin’s growth.
Melker thinks a few things will push Bitcoin up:
- Spot Bitcoin ETFs: These are like investment funds that let people invest in Bitcoin without actually buying the cryptocurrency itself. Melker thinks that if more money flows into these ETFs, it will push the price of Bitcoin up. He also thinks that if Donald Trump wins the next presidential election, big companies like Vanguard and Wells Fargo might start investing in these ETFs, which could bring in a ton of money.
- Ethereum Spot ETFs: Melker thinks that if Ethereum gets its own ETF, it could actually help Bitcoin too. People might want to diversify their investments, and that could lead to more money flowing into Bitcoin.
- Other Factors: Melker also thinks that things like the upcoming Bitcoin conference, the growth of tokenization, and new stablecoins will all contribute to Bitcoin’s rise.
A More Relaxed Regulatory Environment?
Melker thinks that if Trump wins the election, it could make the US Securities and Exchange Commission (SEC) more friendly towards crypto. This would be good for the industry because it would bring more clarity and certainty about regulations.
Think Big!
Melker is urging people to “think bigger” about Bitcoin. He thinks the bull market is going to be even stronger than people expect.
