Adamant Research indicates that an accumulation phase for bitcoin will continue in the $22,000 to $42,000 range before the crypto asset eventually hits a new all-time high north of $120,000 as a result of a multi-year bull run.
While potential downside risks, such as regulatory crackdowns and liquidations by large holders, are also discussed, the report points to continued high levels of inflation and a troubled bond market as two of the factors that will contribute to the coming bitcoin bull market.