Popular analyst Chico Crypto claims that Bitcoin will reach the long-awaited $ 100,000 threshold by the end of 2020. In his view, this upward trend will be determined by institutional investors.
There are some relevant arguments mentioned:
All these products are in great demand from investors. This is evidenced by the increased volume of futures on the CME stock exchange, which records new records every month.
Chico Crypto points out that the total value of the futures contracts traded by CME exceeds 10 million Bitcoin. If they were liquidated in Bitcoin “physically”, the demand on the market would increase significantly and Bitcoin would reach record prices.
So, over the next six months, the price of Bitcoin is expected to rise. The target of $ 100,000 by the end of 2020 does not seem so hard to achieve under these conditions.
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