As Bitcoin approaches its previous top, talks about its next major price objectives have resumed. Jan3 CEO and Bitcoin enthusiast Samson Mow is participating.

Mow recently said on X (previously Twitter) that Bitcoin will soon reach $100,000, a milestone he regards as a step toward $1 million. He predicted events after March's break of $73,750, the all-time high.

Key Factors Driving Bitcoin Price To $100k Target Mow proposes a scenario that might propel Bitcoin to unprecedented heights.

First, breaking the previous record would cause a “recursive Bitcoin demand shock,” lifting prices swiftly because to strong demand and little supply. Mow believes this chain reaction might quickly push Bitcoin beyond $100,000.

Recent market activity reflects his optimism. Bitcoin has gained 1.7% in the previous 24 hours and about 5% in the past week despite a modest setback from $71,312.

Chris Vermeulen, Chief Market Strategist of The Technical Traders.com, agrees with Mow's optimism.

In a comprehensive study, Vermeulen noted a cup and handle formation on the chart, indicating strong upward potential. He predicts Bitcoin will hit $80,000–$90,000, maybe $106,000, using Fibonacci extensions.

Market Dynamics and Long-Term Outlook

Both analysts see present market conditions as a precursor to further gains. Vermeulen's study confirms Mow's projection and adds that Bitcoin may hit $100,000, a psychological threshold that might cause market responses.

Beyond this point, consolidation may occur, but the long-term outlook is encouraging. These estimates also depend on the financial environment.

BTC and gold are becoming more popular as investors worry about the currency and stock market. This change suggests Bitcoin is now considered as a hedge against economic instability rather than a speculative asset.#ETHETFsApproved #altcoins #StartInvestingInCrypto