Certainly, the bullish rally that was triggered by the events described above is very likely to continue through the end of 2021.
Today, the MVRV onchain indicator, which calculates the ratio of market and realized value of BTC, and its derivatives indicate the probability that the bitcoin exchange rate may head towards new all-time highs. In the current cycle, the MVRV high is very similar to the situation in 2017.
Rather, history will repeat itself and we will see rising highs for MVRV and BTC again before the end of 2021. The bitcoin dominance index is also near local resistance at ~48, overcoming which would open the way to ~60 – a stop there would, in turn, allow the top alts to rebound.
The ETF launch also won’t go unnoticed by large investment houses, which can now recruit bitcoin into portfolios for their tens and hundreds of thousands of clients, especially since the demand from the latter is growing every day.
Therefore, bitcoin at $125-150K (see charts) is quite a realistic target till the end of the year. Of course, it will not do without local corrections – everything is as usual here – the greediest will be kicked out and the brave will be rewarded.