Bitcoin To Go 'On Another Huge Run,' Once $100K Is Broken, Crypto VC Claims
Portfolio Pulse from Murtuza Merchant
Andrew Kang, Managing Partner at Mechanism Capital, predicts a bullish future for Bitcoin, forecasting it could reach $80,000 by May and potentially break the $100,000 threshold soon after. He attributes this potential growth to broad-based support from individuals and organizations worldwide, and anticipates that the marketing efforts for Bitcoin ETFs will help overcome supply challenges between $80,000 and $100,000. Kang suggests that breaking the $100,000 barrier could trigger a significant bull run due to a scarcity of supply against ongoing demand.
April 12, 2024 | 6:33 pm
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Andrew Kang's bullish forecast for Bitcoin reaching $80,000 by May and potentially surpassing $100,000 could significantly impact its short-term price.
Kang's prediction is based on broad-based support for Bitcoin and the anticipated marketing efforts for Bitcoin ETFs, which could help overcome supply challenges. The psychological impact of breaking the $100,000 barrier could further fuel demand, reducing supply and potentially leading to a significant price increase.
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