Bitcoin could surge to $150K after breaking $120K, analyst says

Bitcoin could surge to $150,000 if it breaks the $120,000 level, Capriole Investments founder Charles Edwards said in an interview with Cointelegraph. He noted that the probability of a crypto market rally throughout the fourth quarter has been slightly over 50%. Edwards stated that while the four-year bull cycle theory for the crypto market remains relevant, institutional buying is the primary driver of the rally. He added that his outlook would change if the trend of institutional buying were to reverse.