dailyhodl.com
A widely followed crypto analyst is predicting that the price of Bitcoin (BTC) will skyrocket during the first half of this year.
In a new video, the host of InvestAnswers tells his YouTube 388,000 subscribers that Bitcoin is long overdue for a massive rally that should happen sometime between March and June of 2022.
“I always said we’d hit $98,000 Bitcoin during this bull run, [but] I didn’t realize it would be so delayed. Between the China ban and the doldrums for 11 weeks, then a horrible September. December has [also] kind of been sucky.
Somehow, we just are playing magnet ball with $47,000 since the beginning of [December]. We’re still exactly at $47,073, you can’t make this up.
Now I do believe we will hit that $98,000… When I look at things like adoption, on-chain metrics, the big money is coming in Q1, the only way is up. And to double is nothing for Bitcoin…
I’m just going to put a line in the sand and that’s what I see: sometime by the end of March or June.”
The host then predicts that more treasuries will begin to follow the standard set by MicroStrategy CEO Michael Saylor and start buying and holding BTC in large quantities.
“[MicroStrategy] is 15,000 [BTC] away from that target, of having 1% of all BTC supply. More treasuries will follow. They’re creeping in. We haven’t heard about them yet, but a lot more will follow in 2022, especially with this price stability. It’s almost not as volatile as it used to be.”
BTC is exchanging hands at $47,741 at time of writing, a 15.5% decrease from its 30-day high of $56,522.