In the crypto market, the sentiment is only improving, and retail investors are more convinced there is nothing that is going to stop the Bitcoin price from rising all the way to $100K in the coming months. The fact is that a decent amount of Bitcoin supply is under institutional clients and US corporates' control. The trend is only picking more steam as the mainstream media is generating only one thing—FOMO. Traders who have been part of the bitcoin journey are joining the rally as the price continues to break important psychological resistance levels such as 40K, 45K, and the next one is 50K. The price almost took the 50K price level over the weekend. However, the momentum is back today as the price continues to form higher lows and higher highs.
An important thing that we all need to pay attention to is that the Bitcoin rally for this year is still a lot different than the one which saw back in 2017. The current moves consist of series of higher lows and higher highs followed by a period of consolidation or small retracement. In 2017, we only saw the price exploding to the upside, and more importantly, there wasn't any institutional support at that time. Given the fact that billionaire, US corporate, and institutional clients are supporting the current rally, the Bitcoin volatility has tamed to a larger extent. The next target, once the price moves about 50K, is really the 65K.
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