Cryptocurrency analysts: Bitcoin could reach $ 100,000 in next bull market

Cryptocurrency analyst Peter Brandt believes that Bitcoin may eventually reach $ 100,000, and the main question is when and how to achieve it. According to his recent video, Bitcoin is heading towards the $ 100,000 mark, and even longer in the long run. He shared a chart of Bitcoin near the bottom of the multi-year channel, and the bear market channel that Bitcoin has been in since June 2019 will eventually help the market build up enough power to move higher. At the same time, he explained that given that his analysis was based on probability rather than certainty, he was not trying to get new signals daily or weekly. If Bitcoin can break through the current bear market channel, the next bull market phase may begin and help Bitcoin reach historical highs. However, if Bitcoin continues the current bear market trend and breaks the multi-year trend, things will not go as planned. By July 2020, Bitcoin may fall to a low of $ 5,324. This means that it will be about 30% lower than the current price. Still, he believes that Bitcoin will never return to zero because people will be interested in Bitcoin regardless of price level. In fact, Bitcoin is currently trading at approximately $ 7615, with a market value of $ 137.79 billion.