Bitcoin Analyst Eyes $100,000 After BTC Swings Past $10,000

One word can describe the recent bout of Bitcoin (BTC) price action: wow. In the past 24 hours, the cryptocurrency market has experienced a rally seemingly not seen since late-2017, when hype drove prices to new highs day in, day out. As of the time of writing this, Bitcoin sits, according to Coinmarketcap, at $10,750, up 10% in the past 24 hours — a monumental gain which mostly came to fruition within the past four hours.

Save for Ethereum, which itself is up 9% in the past day, altcoins have been suffering. In fact, BTC dominance has risen to 59%, catalyzed by a relative sell-off in non-BTC and non-ETH digital assets. In other words, all eyes are on Bitcoin right now.

Bitcoin to Hit $100,000?

With this recent price action in mind, one analyst, legendary commodities trader Peter Brandt, has become entirely bullish on BTC. In a recent FOMO-inducing tweet, the American analyst, known in cryptocurrency for his Bitcoin analysis, claimed that BTC now has its sights aimed at $100,000.

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