Who else can better predict the development of the Bitcoin market in terms of demand from institutions such as the co-head of Galaxy Digital, an investment company that institutionalizes digital assets.
Jason Urban presented his view of market development in an interview with Kitco News, where he faced the question of what he thinks of the price of Bitcoin at the end of 2021.
Right at the beginning, Jason said that he feels quite confident that BTC will exceed the highs we saw earlier this year by the end of the year. According to him, summer should still be characterized by a flat trend, but everything should change with the coming autumn and thus Q4.
I think that as we pull into the fall, a lot of this institutional adoption .... are going to start to manifest themselves, and we should see the market take out those highs…But I definitely think that you can see something north of $70,000, said Jason Urban
As for the short-term outlook, Jason added that the nearest support could be around $ 25K, but it is possible that the current base at $ 30K will last, as we do not see much strong institutional sales but rather retail. Jason also added that many people did not capitulate which is also positive.