Bitcoin surged near $100,000, generating excitement among investors. However, strategists caution about potential hurdles.
Institutional Support for Bitcoin Growth
Experts suggest that the continued high demand from institutional investors could further boost Bitcoin. Fred Thiel, CEO of Marathon Digital Holdings, expressed confidence in large-scale buyers continuing to purchase Bitcoin aggressively. Speaking in an interview with CNBC, he mentioned that Marathon recently raised a $1 billion zero-coupon bond, similar to MicroStrategy's $3 billion bond issuance.
Impact of Long-term Holders
Nevertheless, some experts warn that sales by long-term holders might hinder Bitcoin's rise. These investors might start realizing profits, which could dampen the price level and reduce overall enthusiasm.
Risks and Market Correction
The market faces risks such as increased leverage and speculative trading. These factors could lead to a correction if not carefully managed.
While Bitcoin continues its trajectory towards $100,000, the remaining risks and caution from some investors could significantly impact its price movement in the near future.
