The founder of Vailshire Capital Management made a bold prediction about bitcoin

Jeff Ross, the founder of Vailshire Capital Management, having analyzed macroeconomic factors of bitcoin market, as well as investigated the indicators of technical analysis, made a bold prediction about bitcoin: in his opinion, “it is likely that bitcoin will go to a new historical maximum within the next one-two weeks with the benchmark of $100 thousand”.

In terms of technical analysis bitcoin is in the stage of consolidation for quite a long time – about two months. Bloomberg analyst Mike McGlone draws attention to the fact that in the situation with bitcoin “demand is growing, which allows us to expect a further increase in the price of the asset and the establishment of a new price level at a time when the cryptocurrency sphere is becoming more mature.”

Recall that a little earlier, U.S. Securities and Exchange Commission Commissioner Hester Pearce from Vailshire Capital also said that the cryptocurrency market is becoming more mature, thanks in part to the fact that more institutional investors are coming into the field of digital assets.

The state of play in the mining industry also points to the expectation that bitcoin prices will continue to rise. For example, Riot Blockchain, a bitcoin mining company, reports that it produced 187 bitcoins in March, an 80% increase from March of last year. Riot Blockchain is also actively investing in increasing its own fleet of mining equipment: the company intends to buy 42,000 S19j Antminers from Bitmain for a total of about $138.5 million.