Bitcoin has once again surpassed the psychological barrier of $100,000, rising from recent lows. The market shows mixed but generally optimistic sentiments.
Overview of Bitcoin Market
The price of Bitcoin has returned above $100,000 after finding support at $98,286. The asset's recovery was propelled by positive news regarding ETF inflows, leading to improved market conditions.
Analyst Predictions
Ryan Lee, Chief Analyst at Bitget Research, suggests that Bitcoin could increase by 48.56% from its current level. He notes that ETF inflows have been a key factor in the recent recovery. Lee expects Bitcoin to reach a price range of $110,000-$115,000 in the third quarter, with year-end predictions ranging from $130,000 to $160,000.
Comparison with Other Cryptocurrencies
For Ether, the second-largest asset, Lee predicts a short-term target of $2,600-$2,800, and a long-term target of $5,500.
As of now, Bitcoin is trading at $109,152, which is 0.95% higher than the previous day. Optimistic predictions from analysts continue to sustain investor interest in digital assets.
