Could Bitcoin hit $100000? And you on top of it still invest in it.
The digital currency that was once perceived as magical by many in the past has now erupted in both value and popularity.
It has largely become mainstream – Giant financial institutions like Paypal, Visa, JP Morgan etc., are offering crypto services, and more retail investors are curious about acquiring Bitcoin now more than ever.
Despite its volatility, bitcoin has risen in value, primarily in the past year. What attributed this Bitcoin rally is Better trust and global trends.
Better trust & Global trends
Early on, crucial interests revolving around Bitcoin were, ‘Will it get hacked?’, ‘Is decentralization a truly workable solution’, ‘will dissecting break the system?’ etc.
Could Bitcoin hit $100000? Yes. Now a decade down the road, many of these questions have been answered. Bitcoin works on credible technology, and it does not break.
Simultaneously, the world is now glimpsing Bitcoin being correlated with more institutional investors like Tesla, Microstrategy etc.
Most institutions are now contemplating restoring their cash reserves into Bitcoin as a rail against financial crises.
Of course, many other cryptos have joined the race, which distracts some retail investors’ interest away from it.
Nonetheless, Bitcoin continuess to be the most substantial cryptocurrency with a total market capitalization of $1.15 trillion, higher than the combined market cap of the world’s three largest banks (J.P Morgan, Bank of America, and The Industrial and Commercial Bank of China).
Could bitcoin hit $100000?
Could Bitcoin hit $100000? Bitcoin is now closer to $100K than it is closer to $0. The current growths around Bitcoin worldwide are a testament to the reality that it is crawling nearer to becoming a mainstream asset class already.
Analysts think that if the trend continues, Bitcoin might hit $100k by the end of 2021.
The projections are based on the stock-flow-model – 94% correlation to Bitcoin price.
This model is used to gauge the scarcity of commodities such as gold.
Is it too late to invest in Bitcoin?
Bitcoin has been smashing into all-time blisses every month since October 2020.
It exceeded the mark of $60,000 lately, and it looks like to be heading near $70,000 again and it’s going distant than that soon.
Although it would have been excellent for an investor to have joined the investment room earlier in 2020, it does not mean that it is now too late to invest in Bitcoin, provided that the investor invest what he or she can afford to invest and be making decent profits as well.
Could Bitcoin hit $100000? Yes but there may be drops in its value from time to time, but even a small investment you make in Bitcoin today could refund manifold in the long run so it’s never too late to invest in it.