Ever since its launch in 2009, bitcoin (BTC) has made headlines and drawn interest from tech enthusiasts and investors. The cryptocurrency has seen multiple meteoric rises, jumping from less than $500 in 2013 to more than $64,000 by 2021.
After a major decline from those heights, bitcoin dropped below $17,000 in 2022. However, the crypto has since rallied, even surpassing $50,000 on February 12, which has led has many investors to wonder if bitcoin could rise above its historical highs and reach six figures.
When Will Bitcoin Hit $100,000?
No one knows for sure whether bitcoin will rise or fall in value over the coming days, weeks, months or years. However, one way to guess at future price changes is to consider BTC’s previous price movements.
In January 2014, bitcoin was worth approximately $800. By January 2024, it was worth more than $42,000. That represents a price increase of better than 5,150% and an annualized return of more than 135% per year over the past decade.
If bitcoin experiences that same rate of appreciation in its average annual returns, it will reach $98,700 in January 2025 and hit $100,000 in February of that same year.
Some experts believe bitcoin could increase in value even more quickly. Frank Holmes, executive chairman of data center builder and operator HIVE Digital Technologies, says, “We could potentially see its price double over the next 12 months to 4x.”
Matt Hougan, chief investment officer at Bitwise, also believes bitcoin could see major price increases this year. He says, “We think bitcoin is in a multi-year bull market and is likely to set new all-time highs this year.”
Of course, this is a simplification of bitcoin’s potential price movements. Cryptocurrency is incredibly volatile and that decade of 135% annualized returns saw multiple instances where bitcoin lost half of its value or more in a short time and didn’t return to previous highs for months or years.
