Bitcoin To Reach US$100,000 By May?

Federal Reserve officials hinting at impending rate cuts have led the , the chief investment officer at Zerocap named Jonathan de Wet to predict that Bitcoin will surge to $100,000 before the end of May. 

According to him, Zerocap anticipates Bitcoin's price to rise to $80,000 prior to April 15th, followed by a further increase to surpass $100,000 the subsequent month. 

He attributes this projection to the Federal Reserve's recent stance which he believes has reinforced their thesis. 

Market reaction to this news has been positive with traders flocking to risk on cryptocurrencies. With this the Bitcoin surged by 10% to $68,150. 

Zerocap's prediction is supported by options market activity with approximately 2,400 bullish Bitcoin bets expiring at the end of June anticipating a price exceeding $100,000 as per data from derivatives platform Deribit.

This effect can also be felt positively on the steep growth of other prominent coins including Shiba Inu, say some insiders.