The possibility of Bitcoin (BTC) hitting $100,000 has increased as financial giant Charles Schwab, managing over $10 trillion in assets, announced its plan to offer spot trading of digital currencies to its clients in the next 12 months. This strategic move could attract significant capital into the crypto market and kickstart a new bullish cycle. Experts believe Schwab’s entry could have a similar impact to Bitcoin ETF launches in early 2024, potentially driving the price of Bitcoin to $100,000. Currently, Bitcoin is trading around $85,000, slightly above the Bollinger Bands’ middle line at $82,811, indicating a consolidation phase after the mid-April dip. Compact candles near the upper Bollinger Band at $87,659 suggest accumulation and readiness for a new uptrend. The Average Daily Range (ADR) stands at 3.06, decreasing after the volatility spike on April 9, usually signaling a precursor to a strong market movement. Maintaining the support level at $82,800 would pave the way for Bitcoin to reach $90,000 and then $100,000. Conversely, if Bitcoin drops below $82,000, a short-term decline to $78,000 (lower Bollinger Band boundary) is possible, posing further correction risks. Visit the real-time digital assets price page to monitor token and cryptocurrency prices live.
