Jelle analyst says bitcoin will reach $ 100 under any circumstances

Despite the recent bearish pressure on the cryptocurrency market, renowned analyst Jelle remains bullish on bitcoin. The expert is convinced that the flagship cryptocurrency has every chance of reaching $ 100,000.

In his recent tweet, Jelle expressed the opinion that bears are doing their best to convince people otherwise, but he believes that BTC is on its way to $ 100,000.

While short-term price drops may be a concern for some investors, experienced analysts such as Jelle urge caution and not to make hasty decisions based on temporary market fluctuations. According to Jelle’s analysis, the current bearish pressure should not scare investors away from bitcoin’s long-term potential. The analyst’s bullish outlook is based on fundamental factors.

One of the key factors of optimism in the bitcoin community is the upcoming halving BTC $95,907.28 Bitcoin -0.21% Market capitalization $1.9 trillion VOL. 24 hours $2.26 billion . During this event, the reward per block for miners will decrease from 6.25 BTC per block to 3.125 BTC. This decrease in the rate of new bitcoin creation is expected to make the supply of cryptocurrency even more scarce.

Historically, halving events have preceded bullish market cycles. A decrease in supply combined with steady demand usually leads to an increase in the price of bitcoin. Many investors and analysts, including Jelle, see the upcoming halving as a potential catalyst that could kick off a new bull market in bitcoin.