Galaxy Research: Bitcoin to Break $100,000 in the Short Term, Bullish for the Next 2 Years

BlockBeats News, November 27th. Galaxy Research stated in a research report on Tuesday that the Bitcoin (BTC) bull market is expected to continue, with BTC projected to break through the $100,000 mark in the near future. The report indicated that an increasing number of institutions and corporations are adopting Bitcoin, the possibility of establishing a Bitcoin reserve by nation-states, and the support for cryptocurrency from the new U.S. government, all suggest that Bitcoin will rise in the near and medium term. The launch of ETF options could increase liquidity and potentially reduce volatility. This could attract large institutions to enter the market, while stimulating retail demand.

Galaxy Research Director Alex Thorn stated that although the departing Biden administration may even take some unsettling regulatory or enforcement actions, causing market unease. The future trend of Bitcoin over the next two years "seems unique and bullish," and the options market data is also bullish.