Is $100k on the Horizon For Bitcoin?

Bitcoin has had an impressive run since the week started. It had a notable increase on Monday, breaking its previous week’s trend of relatively low volatility.

The asset saw a massive spike in trading volume during that session. Data from Coinmarketcap noted that it saw a 147% increase in buying and selling during the period. Notably, the buying pressure surpassed the latter , resulting in a price surge.

BTC opened Monday at $85,197 and surged to a high of $88,527, breaking the level for the first time since Apr 1.

Tuesday saw the asset continue its trend, registering one of its biggest increases in over a week. The largest coin broke above $90k for the first time in almost two months. It closed the previous session with gains exceeding 6%.

Bitcoin Faces Further Uncertainty

The massive increase the asset experienced sparked several speculations. Investors resumed calls for a fresh all-time high, other remain skeptical as to the next price direction due to fear of uncertainty.

It is worth noting that the crypto market was subject to massive price declines following a change in trade policies. Trump’s tariff gave rise to several fears. One such is a rise in inflation that may lead to recession. A temporary pause to these actions had a slight effect at quelling these concerns as investors look forward to what may happen after it resumes.

The uncertainty looms. Nonetheless, traders predict that Bitcoin may hit fresh highs in the coming days. Calls of a bear market has reduced with some analysts suggesting price levels that may make them admit they were wrong.

One such analyst is the CEO of CryptoQuant. Ki Young Ju said BTC may be moving within a wide range and the latest surge may mean nothing.  Nonetheless, he stated that if the asset crosses $100k, he will gladly admit his bear cycle prediction was wrong.

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