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Everyone knows about Bitcoin. It is the world’s first cryptocurrency and launched to fly high, so it removes the question of “if its price increases.” Instead, it raises thoughts about when it will reach $100,000. Investors and enthusiasts predict it will boom in early 2024, owing to its evolving nature. So, let us find out how likely it is for Bitcoin to surpass $100,000 in the near future. We will also examine its current state, pro-opinions, and other perspectives to discover the possibilities of the cryptocurrency's booming price.
Current State
Bitcoins remain a debatable yet interesting topic. The coin is unpredictable, and no one guarantees what will happen to its price in the blink of an eye.
As of September 2024, Bitcoin has a market cap of $1.17 trillion and a trading rate of $56,602.75. Unfortunately, this price decline is approximately 15% to 17% of its all-time high. The value recorded on March 14, 2024, is $73,750, exceeding the all-time high.
Will Bitcoin hit $100,000 in 2024? Expert Opinions
There is no denying that Bitcoin will recover remarkably from the stagnant behaviour mentioned above. In this regard, many investors worldwide believe it will reach $100,000 by the end of 2024.
Thakral says Bitcoin will surpass its target in 2024. Another viewpoint is of the Finder survey, which predicts that BTC can reach $122,000 by the end of 2024. AllianceBernstein experts predict a bullish pattern when viewed internationally, while Goldman Sachs and Peter Schiff speculate on a bearish pattern. Even economist Schiff declares Bitcoin “gambling money.”
Some factors act as driving forces and make BTC reach heights:
- Halving event
- Approval of spot Bitcoin ETF
- Increased interest from institutional investors
- Transformation of the crypto investment landscape in favour of Bitcoin
- Increased adoption
Hope for 2025
Rajagopal Menon forecasts BTC will reach between $90,000 and $100,000 by 2025. Even Talal Tabba, the founder of CoinMena, predicts Bitcoin will hit $100,000 in 18 months. At the same time, Peter Brandt speculates it will reach a market top of $150,000 at the end of 2025.
Also, hopes are that US elections will boost the Bitcoin price to new heights by 2025. Remember, retailers comprise a big portion of crypto trading. Individuals must be involved in Bitcoin through ETFs to cause a price increase. However, many show bearish behaviour in response to Bitcoin's decline and associate it with inflation and risky assets.
Conclusion
As you know, the cryptocurrency market is highly volatile; predictions are only satisfactory as they do not work in real-time situations. The same applies to Bitcoin; its prices are unpredictable due to bearish and bullish patterns. Some say it will reach $100,000, while many doubt it. It is a game of trading and time that makes prices go higher and lower. Traders and investors must wait until the showtime ends to know the new prices.
