Bitcoin Will Reach $100,000 Before The End Of The Year, According To The CEO Of A Cryptocurrency Research Company

Michael Gronager - CEO of the digital money research firm Chainalysis - is exceptionally bullish on bitcoin, and says it will take off past $100,000 by year-end. 

In remarks made during a meeting with Bloomberg, Gronager referred to bitcoin's late-spring auction as a solidification period that harmonized with network enhancements and other accommodating updates across the crypto scene.

"In the bear market, a ton of fascinating things have been assembled, and that essentially works with another buyer market," he said. "Indeed, I believe we're as yet in a buyer market. I figure we can see above $100k before the year's over."

He added: "For the majority of the digital currencies like bitcoin and ethereum - the most steady ones - we simply need to see that pattern, where they develop year-over-year. Some of the time they become quicker than others."

"Long haul, normally you say the moon is the cutoff. We can go up past that too," Gronager closed.

Bitcoin is at present exchanging simply over the key $50,000 limit, moving as much as 3% to $51,033.97 on Friday.

The digital money is presently up 74% year-to-date and 369% in the past year.

The resource tumbled from its record high of nearly $65,000 in April this year. It experienced a sharp auction in May and exchanged range bonds for some time. It's since been on a vertical pattern since mid-May.

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