Expert Warns Against Selling Bitcoin at $100k, Reveals What Will Happen to BTC at that Price

2023-12-10 14:30

Cryptocurrency expert CJK (@CJKonstantinos) cautioned bitcoin investors against selling at the $100,000 price level in a recent tweet, arguing that $100k is “simply a psychological resistance” and the real bitcoin journey is just beginning.

CJK explained that the pending ETF approvals have led some to believe bitcoin may stall or drop after hitting the $100k milestone. However, he contends that $100k marks only the start of bitcoin’s rise from a commodity to a monetary asset.

Transition to Monetary Asset

As CJK stated, “The 401K superhighway of demand (automatic income liquidity injections) is building an exit ramp to $BTC.” He believes the growing 401k and retirement fund exposure to bitcoin via ETFs and other products means new automatic inflows from pensions and salaries. This constitutes a fundamental shift to bitcoin acting more as a monetary asset rather than a speculative commodity.

No Real Resistance

CJK also noted that “$100K is simply a psychological resistance, same as $1M. There is no fundamental or technical resistance at these levels.” He argues bitcoin could rapidly rise through $100k, just as it did through previous “psychological” barriers like $10k and $50k.

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His conclusion? “It could very well mark the start of #Bitcoin journey from commodity value to monetary value.” Rather than an end point, $100k is just part of the beginning of bitcoin’s full evolution.

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The post Expert Warns Against Selling Bitcoin at $100k, Reveals What Will Happen to BTC at that Price appeared first on CaptainAltcoin.

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