Will Bitcoin Reach $100,000?

Of course, impossible to predict such a high price range. Yet some analysts have hinted that Bitcoin may move to $100,000 or more within not-so-distant time.

This happens at least partly due to expectations built up towards the 2024 halving event. Several factors may support this:

Supply Shock

Since the supply is inelastic, it tends to jump up in response to ever stronger demand, so it is likely that the price of Bitcoin will rise when faced with increased demand.

Indeed, events such as halving cause supply shocks that increase prices because the rate of newly created Bitcoins declines.Bitcoin price prediction,

Institutional side is seeing the introduction of BTC by the likes of BlackRock,

as far as institutional side goes. This must increase access and bring in wider traditional investor demand, pushing prices higher.Bitcoin price prediction,

Macro Environment-

When the world witnesses or reads an inflationary trend, many of them take the output of Bitcoin as a form of protection against the devaluation of fiat currencies.

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Thus, if this trend continues, then more investors may rush to the buying market for Bitcoin, and this could push its price up to $100,000.Bitcoin price prediction,

Many analysts agree that even though no one knows when Bitcoin will hit $100,000, it is achievable if one considers Bitcoin’s price movements historically.Bitcoin price prediction,