Among analysts, many believe that by the end of December, Bitcoin will be able to approach $ 100,000 or even break this psychological mark. However, amid the recent market crash, the number of bulls betting on cryptocurrency aggressive gains has plummeted.
Bitwise top manager Matt Hougan also believes that a breakthrough to $ 100,000 by the end of December is unlikely. Now the coin is trading at $ 50,000. Even the "Santa Claus Rally" is unlikely to end with such an important milestone.
At the same time, Hougan does not exclude that Bitcoin can reach $ 100,000, but already in 2022. The growth in the value of an asset will be facilitated by its institutional adoption.
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It is too early to talk about the beginning of the massive entry of hedge funds and financial companies into digital currency. Many of them still fear volatility and unregulated asset. But in 2022, the situation should change, and we will see an increase in the inflow of institutional capital into Bitcoin.
The expert also expects good performance from the air next year. It is an underlying asset of the network, serving as a platform for many startups. ETH rivals such as Solana and Polygon will also show growth, Hougan predicts.