A popular crypto analyst, Ash Crypto, predicts that Bitcoin's price might reach $120,000 due to various factors, including institutional interest and monetary policy shifts.
Strategic Bitcoin Reserve Initiative Gains Traction
The analyst highlights growing institutional interest in Bitcoin, particularly following Donald Trump's confirmation of the U.S. Bitcoin Reserve plan. States like Pennsylvania and Texas are emerging as leaders in state-level initiatives, while international adoption continues to expand in Canada, Russia, Japan, Switzerland, and Argentina.
Monetary Policy Catalyst
A key driver for potential price appreciation centers around the upcoming Federal Open Market Committee meeting. The analyst points to a 97% probability of a 25 basis point rate cut, following similar moves by the European Central Bank and Swiss National Bank. These monetary policy shifts typically create favorable conditions for Bitcoin appreciation.
Institutional Buying Pressure
The analysis emphasizes continued institutional accumulation, with Michael Saylor signaling potential additional Bitcoin purchases. Major mining companies including Marathon Digital Holdings, Riot Platforms, and Hut 8 are actively expanding their Bitcoin treasury positions, potentially triggering increased institutional participation in the market.
Based on these converging factors—technical breakout, policy initiatives, monetary easing, and institutional demand—the analyst projects Bitcoin could reach $120,000 within the week.
