Bitcoin Is Headed Straight to $100,000, Analyst Says: 'I'm Long As Hell'

Bitcoin (CRYPTO: BTC) whales have added $1.22 billion since Oct/ 1, fueling what one analyst calls a lockout rally toward $100,000.

What a ‘Lockout Rally’ Means

John Gillen, host of the Milk Road crypto podcast, explained on Monday’s show that Bitcoin has been in a lockout rally since August. 

Price moves sideways in a tight range, volatility shrinks, and then it jumps higher. As a result, buyers never get a clean entry. 

He argues that six to nine months of deep fear already pushed casual traders out of the market, which leaves few sellers. 

Even a 15% to 25% drop would not change his plan to keep buying. “I’m long as hell,” he told viewers

Why Crypto Is Rising While Stocks Stall

John said the rally rests on adoption and regulation, not a short squeeze. He pointed to three recent developments that give more investors access to crypto:

• SEC innovation exemption: lets companies tokenize U.S. stocks for five years
• OKX and the New York Stock Exchange: plan to put more than 60 tokenized stocks on OKX’s X Layer network
• Leveraged ETFs: the SEC approved its first 3x leveraged Bitcoin and Ethereum (CRYPTO: ETH) ETFs this week

John does not see the recovery as stretched, because Bitcoin at $85,000 sits only slightly above its average price for the past year.