Bitcoin (BTC) is heading for at least $ 85,000 in the fourth quarter of this year and may well surpass the $ 100,000 mark, new research shows.

In its latest market update on Friday, the Decentrader trading platform revealed an unabashedly bullish mid-term BTC price prediction.

Next stop $ 85,000 for BTC / USD

Although BTC / USD is held below $ 50,000 this week, the chain measures have led analysts to remain firmly bullish on Bitcoin price action.

Decentrader analyst Filbfilb is no exception, predicting not only a revenge of all-time highs, but also a $ 100,000 overshoot before the end of the year.

“So with near term bullish signals, we could now prepare for a major run that will first take $ BTC towards $ 85,000 before breaking through the psychological barrier of $ 100,000,” he concluded.

“On the way to an explosive fourth quarter of 2021. “

As Cointelegraph reported, Bitcoin’s price performance has been playing a catching game with underlying network fundamentals and on-chain data for some time.

As a logical conclusion to this process, an upward squeeze is expected to characterize the remainder of this year, similar to the events of 2020. This time, however, the price of Bitcoin in US dollars is expected to be an order of magnitude higher. .

“If the price recovers as we expect in the coming weeks, then our first major target is a level that precedes the 1.618 fib retracement level at $ 85,900,” Filbfilb wrote.

“We don’t think this will be the highest of the cycle, but it could present a point of resistance before a potential parabolic run that will take us past $ 100,000.”

1-day candle chart BTC / USD (Bitstamp). Source: TradingView

Altcoins don’t share the optimism

Bitcoin circled $ 47,000 at the time of writing on Friday, with a lack of an up or down path characterizing the market.

Related: Ethereum Options Data Hints The Battle For $ 4,000 ETH Is At Least A Week’s Time

Altcoins suffered, with a few exceptions such as Shiba Inu (SHIB), but traders were generally disappointed as the top 10 cryptocurrencies outperformed Bitcoin on daily losses.

Ether (ETH) lost 5.2%, while the group’s worst performer, Solana (SOL), lost 12% in 24 hours.

1 hour ETH / USD candle chart (Bitstamp). Source: TradingView