Strategy’s Saylor Says Bitcoin Bear Market Is Over, Predicts Move Back Above $100,000

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Michael Saylor, executive chairman of Strategy, said Bitcoin’s bear market is over and predicted the cryptocurrency will climb back above $100,000.

Bloomberg reported on October 13 that Saylor, in an interview with Bloomberg TV a day earlier, said Bitcoin would "clearly move back above $100,000 and return to a six-figure price." He said the token bottomed slightly below $60,000 before rebounding, and that its rise into the $80,000 range points to further gains.

Bitcoin is trading around $83,000 and has fluctuated around the $80,000 level since mid-August. It remains about 30% below its record high of $126,251 reached in October last year. Shortly after that record was set, about $19 billion of positions were liquidated across the crypto market in a single day, and Bitcoin then stayed in a prolonged bearish stretch.