A popular Bitcoin (BTC) trader is reaffirming his claim that the largest crypto asset by market cap can reach six figures before year’s end.
“I’m still sticking to it, guys… $100,000 by the end of the year.
And we got about six weeks to go.”
Looking at the monthly Bitcoin charts, Vays notes that all moving averages are up.
“Monthly chart looks very bullish…
We are above all moving averages; they are all rising.”
Moving averages are technical indicators that help traders determine current and future trends. Currently, the crypto trader sees BTC in a channel between $60K and $66K.
“As long as we stay in this channel, I will anticipate a big break out.”
However, Vays anticipates consolidation within the channel until as late as after Thanksgiving. If this scenario plays out, Vays is predicting BTC to move from the mid-sixties to $100,000 within the last four weeks of the year.
“I’m sticking with this [arrow on chart pointing towards +$100,000]. And if we continue to consolidate and hit the arrow, that means the price of Bitcoin is still sitting below $64,000 at the end of November. Going into Thanksgiving, the big US holiday.
And then I expect it to go up towards $100,000. So I remain bullish.”
Bitcoin is trading at $64,388 at time of writing.
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Featured Image: Shutterstock/KHIUS/Konstantin Faraktinov