*Can $BTC Reach $100,000?*
Here are some facts we need to consider. Bitcoin's current market cap is $1.4 trillion, which is significantly larger than Saudi Arabia's GDP, three times UAE's GDP, and half of the GDPs of the United Kingdom and India. This is a remarkable achievement for an asset like Bitcoin. If its price surpasses $100,000, its market cap would exceed $2 trillion.
Firstly, it’s important to note that Bitcoin is not a stable asset. Many countries around the world do not accept it. Bitcoin and other cryptocurrencies are highly volatile; the market can experience significant declines due to a single piece of bad news. At the current price of Bitcoin, if a global conflict or another pandemic situation were to arise, the cryptocurrency market would likely suffer the most. This is because there are no daily-use product companies or bank reserves backing Bitcoin to provide stability.
As crypto traders, our focus should be on making money rather than being passionate about Bitcoin or cryptocurrency. Bitcoin may soon return to around $30,000. If you wish to double your investment, you could consider shorting Bitcoin at $68,400 with 5x leverage and closing it comfortably at $48,000.
