Many Bitcoin (BTC) experts and bulls see the crypto hitting $100, 000 in the near time. But many also remain split on when exactly this will happen. The large-cap coin has experienced massive headwinds this year.
It hit its all-time high just last month after scaling well over $68, 000. However, the surge did not last long sine in early December, Bitcoin tumbled to $46, 000. But considering BTC started the year at $30, 000, it’s still outperforming a lot of assets. But could Bitcoin really hit $100, 000?
Bitcoin’s Bullish Sentiment
Conservative analysts at Fidelity Investments are looking at the $100, 000 price target by 2023. But optimistic bulls see this coming rather sooner. In fact, some even predict that the crypto will hit $100, 000 in Q1 2022. Much of this growth is expected to be driven by solid organic demand. Bullish analysts at Token Metrics feel that the currency will hit $75, 000 by year-end.
Data Source: Tradingview.com
Others like Parallax Digital, a digital assets marketing and consulting firm, are looking at $307, 000 by October 2021. This is by the most bullish prediction of them all. Analysts at Parallax argue that inflationary pressures occasioned by the COVID 19 pandemic and the supply chain crisis will push more investors towards cryptocurrency. So, here is an expected timeline of events based on these predictions:
Bitcoin Starts the year at $30, 000
Hits an all-time high of $60, 000 in September 2021
Surges to $75, 000 by year-end and goes on to hit $100, 000 in Q1 2022
Short Term Volatility Still Remains a Concern
Despite these bullish predictions, the short-term volatility of Bitcoin is expected to remain a big concern for investors. This has been a feature of Bitcoin for the last three months or so, and analysts feel it will continue in the short term.
The looming threat of potential regulation also remains a risk factor. However, analysts say that if indeed the crypto hits $100, 000, it will trigger a “euphoric” bull run that could send it to incredible heights.