A widely followed crypto analyst says that Bitcoin (BTC) treasury firms could push the crypto king to a $150,000 price tag, possibly even higher.
In a new strategy session, pseudonymous crypto trader DonAlt – one of the hosts of the TechnicalRoundup YouTube channel – tells his 67,000 subscribers that he believes BTC will eventually break out of its sideways trading range between $100,000 and $110,000.
When asked about the “David versus Goliath” battle between Bitcoin corporations accumulating and old-school BTC investors unloading, DonAlt says that the demand side would eventually prevail, unless something changes in the macroeconomic picture.
“I think the buyers are probably going to win. Whenever you get these movements…if something drastically changes on the macro side of things, you’re going to have to adapt to that pretty quickly.
But unless something drastically changes, I think the buyers are just going to take control…
Even if they’re going to lose, they’re going to be in profit for a little bit, which basically means I think there’s a really good chance we’re going to break above $110,000 and then maybe run to like $140,000 or $150,000 – something in that range.
And then if it’s bearish, it’s going to nuke catastrophically from there, and if it’s not bearish, maybe go even higher. But I’d be very, very shocked if this new trend doesn’t lead to us breaking out.”
Bitcoin treasury companies are publicly traded or private companies that hold BTC on their balance sheets as part of their treasury reserve strategy
Some of the top BTC Treasury firms in the world include Strategy, formerly known as MicroStrategy, health tech firm Semler Scientific and electric car manufacturer Tesla.
Bitcoin is trading for $108,288 at time of writing, a marginal increase during the last 24 hours.
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