Michael Gronager – CEO of the cryptocurrency research firm Chainalysis – is highly bullish on bitcoin, and says it will soar past $100,000 by year-end.

In comments made during an interview with Bloomberg, Gronager referenced bitcoin’s early-summer sell-off as a consolidation period that coincided with network improvements and other helpful upgrades across the crypto landscape.

“In the bear market, a lot of interesting things have been built, and that basically facilitates a new bull market,” he said. “Yes, I think we’re still in a bull market. I think we can see above $100k by the end of the year.”

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