Will Bitcoin (BTC) Reach $100,000?
Will Bitcoin reach $100K? On 10th November 2021, the largest cryptocurrency set an all-time high of $68,789, and this now has every crypto investor is asking; will Bitcoin reach $100,000. If yes, how soon?
As investor interest in cryptocurrency market spikes, Bitcoin could rise to $100,000 over the next year. One expert told Bloomberg that Bitcoin is going to reach $100k level by the end of 2021.
The general feeling within the crypto circles is that Bitcoin will eventually reach $100K, with some optimistic analysts and price prediction websites estimating that it will reach this price level within the next 5 years. The recent Crypto Outlook report from Bloomberg, for instance, suggests that Bitcoin will sustain an uptrend and that it is more likely to rally to $100,000 before December 2021 than of dipping below $20,000 within the same period.
This confidence in Bitcoin’s future follows a hugely successful year performance that saw the coin grow its value by more than 120% at its peak. During this time, Bitcoin had also expanded its market cap to around $1.2 Trillion, almost hitting parity with Alphabet Inc. and making it more valuable than the likes of Facebook and Tesla.
Further uptrend was hampered by China’s ban of the Bitcoin mining operations within its borders in mid-May, which sent its prices stumbling and threw the larger crypto market into disarray. After close to three months in the dip, however, Bitcoin resumed the pre-April wild rally and hit a new ATH, spurring hopes that the coin may end the year trading above $100k.
But could this be possible? We refer to expert opinions and price predictions in telling you if Bitcoin stands a chance of hitting 100k this year or any time soon.
First, though, we start by examining its current and immediate past prices.
Bitcoins (BTC) Current Price
At the time of writing this, Bitcoin is selling for $60,000. The legacy digital currency is trading between $58,000 and $68,000 for the last 30 days.
After the price dip in the middle of the year that wiped all the gains made in the first quarter - the coin is now back to the price levels last reported in April.
Much of the pressure that caused the mid-May Bitcoin price crash has also weathered, safe for the infrastructure bill being discussed in the Congress and Senate in the US. Most of the Bitcoin miners have moved their operations out of China, Elon Musk has said he will consider accepting Bitcoin for Tesla if it hits 50% green energy use, and institutional investors are back at buying the dip.
All this goes to say that there is a high chance that Bitcoin prices keep rising in the foreseeable future.
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So, Will Bitcoin (BTC) Reach $100,000?
Well, crypto experts, price prediction websites, and Bitcoin trader sentiments are hugely bullish about the coin’s future and confident that the pioneer digital currency prices will eventually break above $100,000.
At the current price, the BTC coin only needs to add an additional $40,000 to hit this target price. This current value only needs to appreciate by a mere 67% over the next month if the coin is to end the year trading above $100,000. Considering that its value appreciated by more than 53% in less than a month leading to its peak price in October, it, therefore, is very possible for Bitcoin to hit this elusive price level.
But considering that we now are in a different crypto market situation, is it still possible that BTC gets to $100k before the end of the year?
Vinny Lingham thinks so. He is a crypto investor, and analyst and his input on Bitcoin’s price prediction carries significant weight because he has accurately forecasted BTC, ETH, and FIL prices. Earlier in the year, while the coin was struggling low $30k price range, he tweeted that if Bitcoin could hold this level, it could eventually break out and head for $100k. It has already broken above this price level and is currently aiming for $70k.
Tim Draper, the billionaire venture capitalist and crypto investor, is even more optimistic about Bitcoin’s future price performance and is confident that it will reach $250k by the end of 2022.
In addition, other factors that most experts believe will help Bitcoin reach $100K before year-end is the highly anticipated Taproot Upgrade to the BTC blockchain. It is significant because it is the first upgrade in four years but also due to the fact that its approval was almost unanimous, which makes analysts believe it forms the basis for future upgrades like smart contract integration.
However, not everyone is convinced that Bitcoin will reach this price level before the end year. Crypto analysts at HackerNoon don’t believe that Bitcoin can reach $100k by year-end. They argue that while it is likely to continue uptrending and trader sentiments to remain bullish, there are limited sources of cash that need to be poured into BTC to help it reach this target price.
Their analysis indicates that Bitcoin investors need to pool close to $1.8 Trillion into the coin to help it rise above $100. And with Brands like Tesla out of the way and the Chinese locked out of major Bitcoin trading platforms, pooling in such an enormous capital in a month will be an uphill task.
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Will Bitcoin (BTC) Eventually Reach $500k?
There is an overwhelming optimism within the crypto community that Bitcoin will eventually reach and break above $500k. Though the timelines for the realization of this significant price milestone vary from one crypto analyst and price prediction website to another, the general feeling is that Bitcoin may be worth half a million by the turn of the decade or within the next decade.
Cathie Wood, the CEO of Ark Investment Management, has been particularly steadfast with her prediction that Bitcoin will eventually rise above $500k. She argues that Bitcoin, and the larger crypto industry by large, is still in the capitulation phase and urges everyone to buy now.
The Winklevoss twins and Gemini crypto exchange founders, Tyler and Cameron, also have on several occasions shared their conviction that BTC will eventually get to $500k. During a recent interview with Peter McCormack, the brothers argue that it is not a question of is BTC gets to $500 but how soon it reaches here - adding that they also consider $500k to be a rather conservative price for the pioneer digital currency.
What Will Bitcoin (BTC) Be Worth In 2025?
Overall, based on forecasts from crypto analysts and digital coin price prediction websites, Bitcoin will most likely be worth between $100 and $550k.
Crypto analysts from PrimeXBT are confident that Bitcoin will be trading between $500k and $1,000,000 by the end of 2025. And they associate much of this growth to further Bitcoin adoption by the corporate world, FOMO by both regular and institutional investors, and the coin’s acceptance as a medium of exchange followed by collaborations with payment processing companies like PayPal, Visa, and CashApp.
These sentiments are shared by crypto experts at CryptoPolitan. Their combination of technical and fundamental analysis of Bitcoin’s future price action indicates that the coin may be trading above $550,000 with a market cap exceeding $10 Trillion by the end of 2025.
Technical analysis websites are equally bullish on Bitcoin’s future prices. The analysis by the Wallet Investor, for instance, indicates that the pioneer coin’s prices may grow to around $224,191 within the next five years. The CryptocurencyPricePrediction website, on the other hand, expects the coin prices to rise steadily and reach an impressive value of $736,053 by December 2025.
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Conclusion: Will Bitcoin (BTC) Reach $100,000?
Going through the different crypto expert opinions, price prediction websites, and even Bitcoin trader sentiments, you get a feeling that everyone is convinced that BTC will eventually reach $100k. A majority of these are even convinced that it could reach this coveted price level by the end of the year or within the next few years.
Among the key factors that they believe will drive Bitcoin prices towards and above $100k include FOMO by both regular and institutional investors, further adoption of the legacy coin, the Taproot Bitcoin blockchain, and a relatively calm crypto environment. They have also argued that the coin’s history of wild price rallies shows that it has the potential to grow its current value by over 67% to reach $100k soon.
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