On Nov 5, Bitcoin crossed the much anticipated $100,000 price mark recording a new all-time high. The development was welcomed by the crypto community as it marked the peak of the Bull run which started in November.
Crypto Intelligence firm IntotheBlock analyzed the development while projecting Bitcoin’s price level going forward.
Before we get into the analysis presented by IntotheBlock, let us quickly talk about this ongoing presale that has collected over 600,000 USDT in its second stage.
Minotaurus Presale
Minotaurus is a Web 3 gaming ecosystem that falls under the hybrid casual game category. The Web 3 game involves navigating a minotaur through a maze while fighting crypto creatures and unlocking new territories.
Minotaurus is currently running a live presale with several benefits for early participants.
MTAUR, the native token crypto of the Minotaurus project is offered for a reduced price at the presale alongside other benefits.
The Minotaurus Presale has already pulled in over 600,000 USDT in its second stage indicating a growing community and high interest.
The MTAUR token is selling for 0.00006402 at the presale with the token projected to list for 0.0002 USDT.
This implies that MTAUR token holders are looking at a potential 234% surge on their holdings.
In addition to the presale offer, a 100,000 USDT giveaway is in place with 10 lucky participants set to win from the prize pool. One of the participants will win a whopping 50,000 USDT in MTAUR tokens.
Early joiners of the presale can buy MTAUR tokens for a reduced price alongside other benefits like a referral bonus for inviting friends.
Join the Minotaurus Presale today to enjoy the above benefits and also acquire a potential 234% surge token.
IntotheBlock weighs in on Bitcoin Price trajectory
Crypto Market Intelligence platform IntotheBlock analyzed Bitcoin hitting a new all-time high while giving insights on Bitcoin’s potential trajectory going forward.
The firm explained that Bitcoin’s capped supply and growing interest by institutional players creates a significant upward potential for the crypto asset.
“ Bitcoin breaks $100.000! A major milestone, but what’s next? With a limited supply and substantial interest from large investors (and even countries), the potential seems limitless.
However, we recommend taking a look at prior cycles to evaluate potential. This chart shows returns from each halving. Note that each cycle clearly has diminished returns, as it takes more and more capital to move the market each cycle.
2013–7900%
2017–2560%
2021–594%
So while some are calling for a million dollars per Bitcoin, a more reasonable expectation would be a 100%-200% return from the halving price, placing the top between 130k and 190k. That is, unless Bitcoin becomes a global reserve asset of course.” Intotheblock tweeted.
IntotheBlock’s analysis presents a new price range for Bitcoin through the years taking into consideration key factors like the halving event and Institutional supporters.
Disclaimer: This is a paid release. The statements, views and opinions expressed in this column are solely those of the content provider and do not necessarily represent those of Bitcoinist. Bitcoinist does not guarantee the accuracy or timeliness of information available in such content. Do your research and invest at your own risk.
