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Bitcoin Reaching $100K is Conservative, Here’s How Realistic is this?

Highlights

    The bullish rally of Bitcoin is expected to soar to reach the heights of $100K very soon.

    Bitcoin’s price after the first halving event too surged and reached heights within a small time frame and hence the same is expected now.

    Bitcoin’s sarong price also influence the value of Altcoins

Is Bitcoin Reaching $100K?

Bitcoin price prediction is one of the most preferred topics of any crypto follower. Many analysts predicted how high and low bitcoin prices could go, similarly, Samson Mow, CSO in Blockstream, which is a leading provider of blockchain technologies and CEO at Pixelmatic, tweeted his opinion on the Bitcoin price. 

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As per Samson Mow, Bitcoin during the first halving event in 2016 was priced at $650 against USD. However, a year after, the price jumped to $2000 and within just a few months, Bitcoin attained its all-time high of $19000. 

His view was that whenever Bitcoin scrumbles down, has recovered very quickly and violently. Hence reaching $100K would be unadventurous for the digital asset.

Also Read – Bitcoin Transaction Fees Surges 590 Percent – Here’s What Can Help it Save

Bitcoin Breaks New High 

Bitcoin recently crossed the $10000 mark, which it failed to maintain in consecutive three months previously. Currently, at the time of record, Bitcoin is trading at over $11,111, showing the surge of 1.28 percent within the past 24Hrs. 

One of the Bitcoin newsletters, Ecoinometrics responded to Mow, with a graph of the previous two halving events. As per the analysis, Bitcoin is very much on track to reach $100K within 6 months or a year from now. He further also says that Bitcoin might reach $1M after the next halving event.

The Digital Asset Will Demonetise USD 

Which is a better investment, Bitcoin or Gold, has always been a hot topic of the town. However, it mainly was due to the dollar crash and economic situations. However, according to some users Gold might also collapse and one fine day, people will be forced to ditch it for Bitcoin.

On the contrary, some of the users also criticized the heavy transaction fees. In fact, they said corrections need to be done on priority. As the fundamental utility of Bitcoin would reduce with the increase in the Bitcoin transaction fees which is nearly $5 at the time of recording. 

In a nutshell, it can be summarized that the Bitcoin whale is anticipated in the coming months. A major bull run is predicted for the digital asset within a year.

What’s your take on $100K bitcoin prediction? Let us know via Twitter @CoinpediaNews

You may also find this interesting – Ethereum Turns 5 and Here are Super Interesting Facts on ETH’s Journey

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Qadir AK

Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.

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