A New All-Time High: Bitcoin Surpasses $94,000
Despite the lackluster crowd interest, analysts believe that Bitcoin’s price is poised to continue its upward trajectory, potentially breaking through the coveted $100,000 mark.
Lack of Crowd Euphoria: An Encouraging Sign for BTC
On November 19, Bitcoin’s price surged by 4% from a low of $90,407 to set a new all-time high of $94,002. However, the market intelligence firm Santiment observed that social media commentary was "lukewarm at best," with many in the crypto community showing a surprising level of disinterest and disbelief.
Social Media Interest in Bitcoin
According to Google Trends, investor interest in Bitcoin has waned over the past week as BTC’s price ranged around $90,000. The chart below shows social media interest in Bitcoin over time:
| Date | Interest Score |
| — | — |
| 2021-11-13 | 100 |
| 2021-11-20 | 48 |
This lack of euphoria might indeed suggest continued growth without significant corrections, according to CryptoQuant author IT Tech. In fact, it’s "good news for long-term investors."
The $100,000 Price: A Reality Check
Bitcoin’s potential climb to $100,000 has captivated crypto enthusiasts for years. With multiple all-time highs since the United States Election Day, traders and analysts are convinced that this might soon become a reality.
Analysts Weigh In
- Moustache: "BTC just started its parabola like in previous cycles. $100,000+ is coming ladies and gentlemen."
- Michaƫl van de Poppe (MN Capital): The market could "see Bitcoin go to $100-120K" in the coming one to two months.
- QCP Capital: Bitcoin’s potential to hit $100,000 continues to hold the highest concentration of open interest.
Growing Institutional Confidence
The strong market debut of BlackRock’s spot BTC exchange-traded fund (IBIT) on November 19 underscores growing institutional confidence in Bitcoin as a mainstream asset class. This market response is likely to attract new investor cohorts and enable diversified trading strategies, which could help reduce both volatility and downside risk.
Conclusion
While the crypto community may be showing a surprising level of disinterest and disbelief, analysts believe that this lack of euphoria is an encouraging sign for Bitcoin’s price. With multiple all-time highs since the United States Election Day and growing institutional confidence in Bitcoin as a mainstream asset class, it’s possible that we’ll see a continued upward trajectory in BTC’s price.
Investment Advice
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
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