CandleFocus Top Platform Says Bitcoin $120,000 May Not Be Too Far Off With Trump’s Reserve Plan
2024-11-15
Author: Content Editor
According to QCP, a trading firm, Bitcoin may soon reach $120K as it continues its post-election rally and with the proposed BTC reserve by Trump's administration. The global crypto market cap surpassed $3 trillion for the first time since 2021, with Bitcoin reaching a new all-time high of $93,480. QCP suggests that a rotation from gold to Bitcoin could support its valuation and lead to a price range of $100K to $120K. However, QCP also raised concerns about excessive leverage in altcoins and the potential risks of a market-wide deleveraging event. VanEck's Head of Digital Asset Research, Matthew Sigel, is optimistic about Bitcoin's future price trajectory, pointing to parallels with its performance in the 2020-2021 cycle. VanEck projects that Bitcoin could reach $180K by the end of the market cycle. Market analyst Rekt Capital suggests that Bitcoin is in the early stages of a "parabolic upside" phase, indicating significant potential for further gains.
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