Bitcoin’s price surged to an all-time high of $94,002 on Nov. 19, marking another significant milestone in its ongoing rally. Despite the record-breaking move, the crypto market showed surprisingly little enthusiasm, with social media commentary described as “lukewarm at best” by market intelligence firm Santiment.
The lack of euphoria is seen as a positive sign by analysts, who point out that fear of missing out (FOMO) often leads to corrections. According to data from Google Trends, investor interest in Bitcoin has waned over the past week, with the social media interest metric dropping from 100 to 48.
However, top analysts remain bullish on the prospect of Bitcoin reaching $100,000. Moustache, a popular analyst, notes that BTC is just at the beginning of its parabolic phase, similar to previous cycles, and if it follows the same trajectory, the price could move exponentially above $100,000.
Other experts, including MN Capital founder Michaël van de Poppe and QCP Capital, also predict that Bitcoin’s price will continue to climb. Van de Poppe shares a target of $100-120K in the coming months, while QCP Capital highlights growing institutional confidence in Bitcoin, citing strong market response to its debut on Nov. 19.
The accumulation of open interest and intensifying accumulation across all cohorts also support the bullish outlook, according to Bitcoin analyst Bitcoin Munger.
Source: https://cointelegraph.com/news/100k-bitcoin-next-no-euphoria-encouraging-btc-price-breaks-new-highs