Understanding whether it is possible for Bitcoin (BTC) to hit 100k is not an easy thing to do.. The cryptocurrency has been growing over the last years and it attracted a large number of investors.
Bitcoin $100k price might be one of the goals of the BTC community. This would be a unique opportunity for a large number of investors to take profit. This is why they ask “Will Bitcoin reach 100k?”.
Some analysts suggest that Bitcoin to 100k is not an impossible thing to happen. In this post we will share with you when will Bitcoin hit 100k, whether it is possible and what experts think on this matter.
Disclaimer: this post should not be considered investment advice. This is only for educational purposes only. Never invest more than what you are able to lose and always ask for information to your professional financial advisors. We are not financial a
Bitcoin is the largest cryptocurrency in the world. Several investors have been entering the market in recent years. This is why many of them want to know if Bitcoin 100k price could happen or not.
The digital currency went through different price cycles. BTC reached an all-time high, entered a prolonged bear market and surpassed its previous all-time high in another bull run. This is a cycle that we have seen many times in the past and that repeated over the years.
Of course, past performance is not something that can predict the future. Indeed, it might take some time before we know what can happen. However, several analysts are already answering the “When will Bitcoin hit 100K” question.
During 2020, Bitcoin has already surpassed its previous all-time high registered in 2017. The question is whether it will be possible for it to continue growing in the coming months and years.
If Bitcoin moves to 100k, what does it mean for LTC and ETH? Well, one thing is clear, it Bitcoin continues moving higher in the coming years, it might be possible for altcoins to follow. Litecoin and Ethereum are two of the largest in the market. They could also increase their price and move towards new highs in the future.
Litecoin would have to surpass $325 and Ethereum could go beyond $1,400. This is something that could happen sooner rather than later. Nevertheless, reaching higher prices such as $1000 LTC or $5,000 ETH could take some more time and might not even happen in the future. We just need to wait and understand what will happen during the next bull run in the crypto market.
Tim Draper has suggested many times that the price of Bitcoin could hit 100k or even $250,000 in the coming years. He believes that this could happen between 2020 and 2023. That means we still have some time to know whether this will happen or not.
The investment bank JPMorgan is also bullish about the future of Bitcoin. Despite having a negative outlook on BTC, the bank considers it is possible for the largest cryptocurrency in the world to hit 100k and surpass this level.
The bank released a report where they explain that Bitcoin and gold have been the main beneficiaries of the COVID-19 pandemic in 2020.
John McAfee has also predicted Bitcoin to hit 100k. Not only this but he considers Bitcoin could eventually reach the price of $1 million per coin. Although this is not an easy thing to do, it could certainly be a trend that the virtual currency could follow in the coming months.
Investing in Bitcoin is not an easy thing. There are several risks involved. 80% drops were common in the market in recent years, and it is clear that it can happen once again. Thus, investing in BTC is a risky thing.
This is why it is always important to do it in moderation and understanding that the market will not move in a straight line for Bitcoin to reach $100,000 in the coming years. This is a process that can take longer and that would require users to hold during periods of corrections.
Additionally, these are just predictions. This does not mean that they will happen in the future. Analysts only try to provide a clear idea of what can happen in the coming years. But this is certainly not investment advice. This is for educational purposes only.
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