Can Bitcoin (BTC) Truly Reach $100k?
The crypto market looks pretty bloody today, with a lot of digital assets trading in the red.
At the moment of writing this article, the king coin is also trading in the red, and BTC is priced at $10,465.12.
Bitcoin has been gaining more and more popularity these days despite the global crisis.
People are turning towards crypto, and Bitcoin is seen as a safe haven these days that can even compete with gold.
Can Bitcoin hit $100k?
It’s been revealed that there’s a new viral post on Twitter that’s centered on a much-debated question in the crypto space – if BTC will ever hit $100k.
According to the online publication, the Daily Hodl, a lot of BTC traders and analysts, and crypto entrepreneurs as well, they all hinted at the possibility / predicted that the king coin would soon reach $100k.
They all said that BTC can reach six figures in a couple of years, but is this really possible?
A lot of Redditors said that BTC could indeed rise to $100k, and this is “inevitable.” They also say that this is “just a question of how much time it’ll take.”
BTC could remain at the mercy of whales
According to the reports from the Daily Hodl, others still think BTC is at the mercy of whales. They say that the king coin will remain volatile for such sustained growth.
“I’ve been a BTC bull since the early days, but also recognize that ownership is concentrated in the hands of a minority early adopters who have good motivation to cash out at the right levels,” a Redditor said as quoted by the same online publication mentioned above.
The person continued and said: “I think the price will remain a cycle of pumps and dumps ranging between $6k and $30k for the next 10 years.”
Some people also talked about the dollar depreciation and pondered “how much $100,000 will buy” at whatever time Bitcoin reaches that value.
Check out the complete thread on Reddit.
CoinMarketCap is a website that provides cryptocurrency market cap rankings, charts, and more. It was purchased by Binance for $400M in 2020.
Eduard Watson Author
An experienced finance writer for more than 10 years, active industry watcher, and gadget enthusiast.