According to external sources, David Duong, the former research director of the Coinbase Institute, recently revised up the year-on-year expectations of the bitcoin, arguing that there was an opportunity to raise prices to $100,000 by the end of the year. According to the text, Bitcoin ' s latest report was US$ 77,129.12, an increase of 22.8 per cent over the past week.
Money flows become the main support.
Duong indicated that he had been more inclined to organize bitcoin between $85,000 and $90,000, as the area had gathered more. However, after re-evaluation of the macro environment, he moved the target upwards to six digits.
In his view, the current buyout structure was changing. Bitcoin investors are no longer largely bulk-driven, and more and more funds are entering the market through spot ETF. Reasons include lower holding costs and a change in the preference of some investors for hosting after recent security incidents.
According to the article, Duong believed that such flows could overwhelm traditional interest rates for some time and could continue to increase from the end of the three to the beginning of the fourth quarter.
Clarity Act as a potential catalyst
Duong also mentioned that the United States Senate ' s procedural vote on Clarity Act was moved to September 15, which could become an event point of market interest.
He indicated that the market was currently taking into account only about 20 per cent of the probability of passing the Act and that overall expectations were therefore low. If the bill goes forward unexpectedly, there may be a significant boost to the encryption market; if it fails to pass, the market response may be relatively limited, as disappointment expectations are reflected in advance.
At the same time, he noted that regulatory progress was not entirely dependent on the bill. The United States Commodity Futures Trading Commission and the United States Securities and Exchange Commission are also seen as supporting factors in the ongoing development of relevant rules.
Breach zone still needs to be confirmed.
At the price level, Duong believed that it would be better to confirm that the market was entering a new stage of transactions if it were to continue to stand at a higher level than before, with stronger trade-offs.
As expressed in the text, his concern was about 65,000 to 70,000 dollars. Overall, his judgement of the timing is more based on financial flows and macro conditions than on a single date or event.