Scott Melker Predicts Bitcoin (BTC) Reaching $100K in Few Months
Bitcoin has been on a tear this year, with its value reaching new highs every day. One expert believes that the cryptocurrency could reach an all-time high of $100,000 in just a few months.
Scott Melker, a cryptocurrency analyst, has predicted that Bitcoin (BTC) will reach $100K in few months. Read more in detail here: when will bitcoin hit 100k.
After being stranded in the middle of the sea after a hurricane, the crypto industry has just returned to shore! Yes, after the terrible market collapse, there has been a steady upward trend in all cryptocurrencies, including Bitcoin (BTC) and altcoins. Despite this, Scott Melker, popularly known as ‘The Wolf of All Streets,’ a well-known crypto fanatic, investor, and adviser, has released his insights and forecasts on the king of cryptocurrencies, Bitcoin (BTC).
Scott Melker’s Prognosis
Scott Melker, a well-known crypto analyst, investor, and adviser, believes that Bitcoin (BTC) will hit its all-time high this year. This is a well-known truth, since BTC consistently achieves new heights each year, establishing a new benchmark in the process.
Despite this, Scott Melker predicts that Bitcoin (BTC) will shortly exceed $100,000, while Ethereum (ETH) will drop to about $10,000. Furthermore, according to the experts, all of this will occur within a 6- to 12-month time frame.
Furthermore, Melker claims that the recent $1.2 trillion infrastructure plan has prompted people to invest in BTC and will continue to do so in the future. He also believes that enacting the infrastructure bill would be the most effective method of indirectly promoting BTC.
On the other side, in Melker’s words, things have changed, with an increasing number of members of the court coming out in favor of the bitcoin sector. Furthermore, he believes that all of the market’s enormous support has prompted many people to invest in BTC rather than sell or trade it.
Melker, on the other hand, believes that the infrastructure measure has yet to clear the House of Representatives. Furthermore, he estimates that the measure will take almost two years to pass.
On the other side, the crypto business, traders, and investors may make good use of this two-year timeframe. Furthermore, it is well known that the bitcoin feature alone prevented the infrastructure bill from passing for almost three days.
The Other Reason for Bitcoin’s Ascendancy
The ‘Exchange Traded Fund,’ according to Scott Melker, is the next key element supporting BTC and the crypto market (ETF). Regardless, Melker believes that if the ETF is authorized by the US Securities Exchange Commission (SEC), it would be a watershed event in BTC’s history.
With the ETH in place, almost all types of long-term and mid-term investments, all in the form of cryptos, would be on the increase. Furthermore, he predicts that the whole BTC industry will be controlled shortly, in all legal terms, and will be formally recognized as a regulated asset. Furthermore, Melker believes that in the long term, BTC will exceed its six-digit goal and move to seven digits! And Ethereum (ETH) will overtake Bitcoin (BTC) in terms of market capitalization, rising to about $30,000.