When will a bitcoin reach 100,000 dollars? This is the possible date for crypto to reach this historic value
Bitcoin has more than doubled its value since the beginning of the year and could be on pace to potentially top $100,000 before 2024 is over and done.
Investors in the world of cryptocurrencies are “seeing unprecedented momentum” in digital assets since Donald Trump won the 2024 presidential election. The president-elect said during the campaign that he’d like to establish a strategic reserve of Bitcoin in the United States and vowed to make the US the “crypto capital of the planet.”
Bitcoin has shot up in value over the year to more than double since January 1, 2024. Just since Election Day the original cryptocurrency has gone from just over $68,000 to pass the $90,000 mark. Industry experts think that it will keep rising to breach the $100,000 psychological barrier with Douro Labs CEO Michael Cahill telling The Block it “isn’t a matter of if — it’s a matter of when.”
When will a bitcoin reach 100,000 dollars? This is the possible date for crypto to reach this historic value
The general consensus according to those who study the digital asset see Bitcoin crossing the $100,000 milestone within the next few months at the latest. There are even those who are bullish on Bitcoin getting there before the end of the month.
Ryan Lee, chief analyst at Bitget Research told Cointelegraph: “If history repeats itself and Bitcoin prices grow as projected, a 14.7% from the current price level will push the coin well above the $100,000 target for the month.” November has typically been good month for the crypto coin in the past.
However, others think it will take a little bit longer to pass the psychological level. Cahill, in his opinion, thinks “that could be as early as the first quarter of 2025.” He reasons that “the current macro environment is aligning favorably for digital assets, we’re seeing unprecedented momentum.”
Bitfinex analysts see the main catalysts for Bitcoin maintaining its rise to $100,000 as not just Trump becoming president again, but also the Federal Reserve continuing to ease monetary policy and reduced supply issuance of Bitcoin after the digital token halved in April this year.
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