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Bull run will continue for another 2 years! Galaxy Research firmly believes: BTC will definitely break 100,000 in the short term
After reaching a new all-time high of $99,531 last week, BTC is now retreating to the $95,000 level. However, analysts remain optimistic about the future market. According to a report released by Galaxy Research on Tuesday, the BTC bull market is far from over and is expected to rally again in the short term, challenging the key level of $100,000.
The Galaxy Research report points out that multiple Favourable Information factors are providing strong support for Bitcoin. Firstly, the increasing adoption of BTC by large institutions and enterprises is boosting market confidence; secondly, BTC is expected to become a reserve asset in the United States; additionally, the friendly attitude of the new U.S. government towards Crypto Assets will also bring policy dividends to the market.
However, Alex Thorn, Director of Galaxy Research, reminds that the rise of BTC will not be smooth sailing and straight up, even in a Bull Market there will be ups and downs. He gives an example, saying that the Biden administration may implement regulatory and enforcement measures in the final stage before leaving office, which could cause temporary market fluctuations.
Overall, Alex Thorn believes that the market pattern of Bitcoin in the next two years will still be "crowded with chickens" and "bullish".
The report also mentioned that the market's layout for BTC options shows a strong bullish sentiment, and analysis points out that the appearance of BTC ETF options will not only significantly increase market Liquidity, but also have the potential to reduce Fluctuation risk, attracting more large institutions to enter the market and further driving the retail investor investment boom.
As of the time of writing, BTC rose 3.6% to $95,803, and in the early hours of today (28th), it failed to hold steady at $97,000, and once dipped to $94,989 in the early Asian session.
<Bull Market will run again for 2 years! Galaxy Research firmly believes: BTC will definitely break 100,000 in the short term> This article was first published in Blocklike.