news 
Bitcoin has reached new heights, or rather new lows for the bears, as it surpassed $118,000 and is still climbing. In a shocking turn of events, research suggests that this upward trajectory could continue to propel Bitcoin’s price to a staggering $160,000 by year-end.
The latest market developments have seen a frenzy of activity, with over $1 billion in liquidations triggered within the space of 24 hours. This unprecedented event underscores the sheer scale and volatility of the crypto space. Meanwhile, Ethereum is also reaping the benefits of this bull run, surging an impressive 8% to smash through $3,000 resistance.
The Keyrock report that highlights these astronomical price targets suggests that certain firms holding BTC in their treasuries could be instrumental in driving this upward momentum. These companies, which include Strategy, formerly known as MicroStrategy, hold a substantial amount of the cryptocurrency and rely on maintaining a substantial premium over its value to finance new purchases and cover debts.
In light of this, it is forecasted that if these firms are able to maintain their current financial structure, Bitcoin’s price could reach $160,000 before year-end. This would be a remarkable feat for an asset that has already defied predictions by breaking above $118,000.
Source: crypto-economy.com
