Why Investors Believe Bitcoin Could Hit $100,000
Since its launch in 2009, Bitcoin (BTC) has grown incredibly, attracting significant interest from many investors. It has also seen a significant rise in the price of its tokens, especially between 2013 and 2021, when it rose by a whopping 12,700%.
In 2022, the price of BTC dropped to $17,000, but then began to steadily rise for most of 2023, closing the year at just over $40,000. 2024 has also been a good year for BTC, with the token trading above $50,000 for the first time in over 24 months on February 12.
As a result of this surge, technical analysts are predicting that the token could hit $100,000 sooner than expected. Although this prediction may seem a bit high, by studying the price path of
$BTC over the years, we can conclude that the prediction is most likely correct.
For example, in January 2014, Bitcoin was trading at around $800, but by 2024, it had already risen by 5,900% to $48,000. If the cryptocurrency maintains this rate of price increase, it should reach $98,700 in January 2025, and potentially $10,000 the following month.
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