$100k Bitcoin Is Closer Than You Think
Analyzing bitcoin's current market structure to make the case for six-figure bitcoin. Only 2x from here now.
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Ladies and gentlemen, we hope this morning’s analysis finds you well. After a year of tumult followed by a year of choppy upward price action, we stand before you after a multi-month rally and present our case for why $100,000 bitcoin in 2024 is not as absurd as it first sounds. Moreover, it is a possibility sooner than you might think. At The Bitcoin Layer, we don’t have to be shy about a bullish setup we haven’t seen since 2016, when the CME was about to launch bitcoin futures and developers were working on a Segregated Witness upgrade to bitcoin’s protocol that would allow for the launch of Lightning Network. Today, we’ll look at bitcoin’s cycle, effects of the Fed, institutional flows, bitcoin derivatives markets, and on-chain analysis to determine just how bullish the current setup appears.