The analyst predicts that the Bitcoin price trend in the fourth quarter will be “explosive”, and the next stop for Bitcoin is 85,000 US dollars

Bitcoin (Bitcoin) In the fourth quarter of this year, it will reach at least US$85,000, and it is likely to exceed the US$100,000 mark, new research shows.

In its latest Market update On Friday, the trading platform Decentrader announced an unapologetically bullish mid-term BTC price forecast.

Next stop BTC/USD 85,000 USD

Although BTC/USD remained below US$50,000 this week, on-chain indicators have led analysts to remain firm and bullish on Bitcoin price movements.

Decentrader analyst Filbfilb is no exception. He predicts that it will not only re-set a record high, but also exceed $100,000 before the end of the year.

“Therefore, in the case of recent bullish signals, we can now prepare for a big rally, first pushing BTC to 85,000 USD and then breaking through the psychological barrier of 100,000 USD,” he concluded.

“Bring explosive growth to the fourth quarter of 2021.”

As Cointelegraph ReportFor some time, Bitcoin’s price performance has been catching up with the underlying network fundamentals and on-chain data.

As a logical conclusion of this process, the squeeze for the rest of the year should be a feature of the rest of the year, similar to the events of 2020. However, this time, the price of Bitcoin in U.S. dollars should be an order of magnitude higher.

Filbfilb wrote: “If prices do rebound in the way we expect in the next few weeks, then our first major goal is to stay ahead of the 1.618 Fibonacci retracement level of $85,900.”

“We don’t think this will be the high of the major cycle, but there may be a resistance point before the potential parabolic run that will take us over $100,000.”

BTC/USD 1-day candlestick chart (Bitstamp). Source: TradingView

Altcoins fail to share optimism

At the time of writing this article on Friday, the price of Bitcoin was $47,000, of which Lack of trajectory Characterize the market up or down.

related: Ethereum options data shows that there is at least one week left in the battle for 4,000 USD ETH

Altcoins suffer losses, with some exceptions Such as Shiba Inu (SHIB), but generally disappointed traders because the top 10 cryptocurrencies performed better than Bitcoin in terms of daily losses.

Ether (Ethereum) Fell 5.2%, while Solana (SOL), the group’s worst performer, fell 12% in 24 hours.

ETH/USD 1-hour candlestick chart (Bitstamp). Source: TradingView