The question “Could Bitcoin hit $100k” is a good one to ask if you are thinking about buying cryptocurrencies. The price of Bitcoin is currently 74% higher than its going price. However, not everyone is so bullish about cryptos. Bloomberg’s Crypto Outlook, which analyses the market for different cryptos, has predicted that Bitcoin will hit $100k in 2021, and then fall to a low of $20k.
It is important to note that the price of Bitcoin may increase if the digital asset gains a 50 percent share of the store of value market within the next five years. If this happens, Bitcoin could reach over $100k in six months, representing a compound annualized return of approximately 17% to 18%. On Tuesday, Bitcoin traded at about $46,000 in New York. In 2017, it increased more than 60%, reaching an all-time high of almost $69k in November. Though its network utilization remains an obstacle, the demand for Bitcoin is not expected to diminish.
While many cryptocurrency enthusiasts have argued that the price of bitcoin should be considered a risky investment, the reality is much different. The price of gold has stagnated around $1,800 an ounce, and investors are putting their money in the cryptocurrency. But that has not deterred investors – they believe that bitcoin could double in price over the next five years. Its recent price surge has already caused major ripples across the crypto world, with prices of Ether, Bitcoin, and Ether rocketing to a record high. Visit here me: thedolive Touch here visit now: topwebs