Bitcoin (BTC) Price Prediction: BTC Could Break ATHs Way Sooner Than You Think

Bitcoin (BTC) recovery coincided with the surge of the most risky assets like altcoins and equities. The Dow Jones and the S&P 500 index have jumped

Bitcoin (BTC) price has soared to $66,000 this week, reaching its highest level since July 31. The coin has been rising in line with other risky assets like altcoins and equities.

The Dow Jones and S&P 500 index have both jumped to a record high this week, while the Nasdaq 100 is a few points below its all-time high. Crypto analyst Miles Deutscher has estimated that Bitcoin could continue rising in the near term, reaching a high of $81,000.

Deutscher noted that the S&P 500 index, which tracks the biggest American companies, is now up by 9% from its highest level this year. He told his 541,000 followers that BTC is still lagging, trading 11% below its yearly high of $74,000.

“If BTC catches up to stocks (9% above yearly high) – this would imply a BTC price of $81,000. The catchup begins,” he noted in a tweet on Friday.

Other analysts are also bullish on Bitcoin. In a recent note, analysts at BlackRock, the biggest asset manager in the world, called BTC a “unique diversifier” in a report on Sept. 17.

The New York-based firm noted that the top cryptocurrency is a unique asset that is not correlated with equities, especially in periods of heightened risk.

BlackRock has continued allocating Bitcoin in its balance sheet, a move that may inspire other firms to start buying the digital asset.

Meanwhile, MicroStrategy has continued to accumulate Bitcoin. The firm's founder, Michael Saylor, predicts that BTC will rise to over $13 million by 2045. The company currently holds over 252,000 coins.

Bitcoin enthusiast and MC Consultunacy founder Michael van de Poppe noted that BTC could jump to between $90,000 and $100,000 by the end of the year. He noted that the soaring global liquidity will increase as central banks slash interest rates.

“Gold continues to push higher, while Silver has reached the highest price level in a decade. Global liquidity is significantly increasing and $Altcoins have barely started. Before the end of the year, we're likely seeing $Bitcoin trading between $90,000-100,000,” van de Poppe said in a recent tweet.

Seasonality is also favoring Bitcoin in the near term. CoinGlass data shows that the average return in the fourth quarter is