A well-known crypto analyst predicts that Bitcoin (BTC) could reach a price of $150,000 or even higher, driven by treasury firms investing in the cryptocurrency.
During a recent strategy session, DonAlt, a pseudonymous crypto trader with a large following on the TechnicalRoundup YouTube channel, shared his thoughts with his 67,000 subscribers. He believes that BTC will break out of its current trading range of $100,000 to $110,000.
When discussing the battle between Bitcoin corporations accumulating and traditional BTC investors selling off their holdings, DonAlt expressed confidence in the demand side prevailing, barring any significant changes in the macroeconomic landscape.
“I think the buyers are likely to come out on top. Unless there is a major shift in the macroeconomic environment, the buyers will most likely take control. There is a strong possibility of Bitcoin surpassing $110,000 and potentially reaching $140,000 or $150,000. If the trend remains bullish, the price could go even higher. However, a bearish scenario could result in a significant drop. I would be surprised if this new trend does not lead to a breakout.”
Bitcoin treasury companies are entities, whether publicly traded or private, that hold BTC as part of their treasury reserve strategy.
Some of the leading BTC treasury firms globally include companies like Strategy (formerly MicroStrategy), Semler Scientific, and Tesla.
At the time of writing, Bitcoin is trading at $108,288, showing a slight increase over the past 24 hours.
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