While the leading cryptocurrency Bitcoin (BTC) has surpassed the critical level of $ 100,000, there is no full consensus in the market. While some analysts expect a pullback or a sideways movement from here, some analysts expect the rise to continue.
At this point, Nick Forster, founder of decentralized options protocol Derive, said that he does not expect BTC to move sideways around $ 100,000 for a long time.
Forster said that breaking the $100,000 psychological price barrier would attract more interest and push the price higher.
“I don’t think we’re likely to see much consolidation around 100,000. I expect the rally to continue.
Because breaking $100,000 will attract new participants to the market and change the minds of existing investors.
This also points to more volatility and potential upside.”
The analyst also stated that investors may turn to altcoins from now on, predicting that there may be a further return to Ethereum (ETH) and other altcoins.
“ETH has been lagging the market so far. But I expect that to change now. As a reminder, ETH has historically outperformed Bitcoin after reaching previous all-time highs or major milestones,” Forster said.
*This is not investment advice.
