logo

Will Bitcoin Touch the six-figure mark this year?

The growth of Bitcoin has remained miraculous so far. First, the price went up to 64K USD and then went down to 30KUSD per unit. Again, it started the boost once again. The volatility factor has made the coin – Bitcoin roller coaster move in its value and cost. Now, once again, we see a good surge of Bitcoin bringing things back to normal and getting the value not less than 65K USD. It brings up the big question, will Bitcoin be able to touch the six-figure mark this year. The answer is, it is very much possible provided the pace of its growth goes smooth in the market. Today we see a sizable number of people investing in Bitcoin apart from other digital currencies in the market. It has attracted the young and old, the dummies and the veterans, bringing them the best before the market. You can explore this subject on sites like thecryptogenius.io and get an edge on it. 

Meanwhile, we will explore this topic here. A majority of people having Bitcoin have experienced the crackdown on prices, and it had even gone to 50 percent in the recent past before it bounced back to the same value. Now, it is back and has gained the value of an all-time high. The fact of the matter is we have seen the steady growth of Bitcoin prices, and it has gained a good recovery from different key drawbacks that have given something the best in terms of performing assets in the recent past decade. We have seen the cost of coin rebounding at a faster pace gaining 56 percent of the price hike, and the recovery went to around 228 percent. In this way, the recovery has been massive and historical at the same time. The dual thing comes along in pattern playing in a weird way that remains very similar to 2013, wherein the cost could go up to 10 times in just fifty days. It started in early October, and the price seemed to hover around 66K USD. 

With this pace, one can expect a six-figure price for Bitcoin in the coming time. The fact is, it is only 51 percent away from the price. As seen in the earlier cycles, a more conservative percentage has moved ahead during the Bitcoin bull cycle recovery. History to repeat itself; however, not all the on-chain metrics cover the recent price action and the expectations of coming up with the new entrant demand. It can come like a bullish kind of holder behavior in the history of bitcoin that has further given the signal for the price recovery under process. Right now, we can see a plentiful supply of the market and give current holders of the BTC. It is known as the free market, which seems to be the BTC’s volatile nature that remains out of criticism. 

It works like a free market, which remains volatile when it comes to Bitcoin. It has been criticized a lot for playing out. Except for the fact that we see volatility prices going high and upside down this time, as seen in the earlier cycle. We can see the long-term and online metrics that seem to come along with the bullish way. More and more people are now circulating Bitcoin supply in a big way that further enhances migration from both the short and long-term investors. At the same time, inflation remains a concern for many. It has pushed up the demand seeking the help of retail and institutional investors to explore further different asset types, including Bitcoin instead of cash or the traditional inflation hedges. If you check the example of 2017, it will not get away with the higher prices that would further end up getting big with six figures and the end of this year. However, experts feel that you need to invest with all care. The market remains unpredictable. The price of Bitcoin renders to the six-figure range, and the issue of volatility remains on the higher side that is further going to hamper things. Hence if you are investing in Bitcoin, you need to be careful enough to invest.

Disclaimer. This is a paid press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Cryptopolitan.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.

Related News

Hot Stories

Celsius withdraws motion to rehire CFO at $92,000 a month
US launches 3 bills to regulate cryptocurrency spot markets through CFTC
Crypto.com earns license of operation in South Korea
20x Expectations For Gnox (GNOX) Have Early Investors Seeing Stars. Gate (GT) And Basic Attention (BAT) Investors Are All In
Litecoin price analysis: LTC breaks at $3.8 as bullish succession continues

Follow Us

Industry News

Celsius withdraws motion to rehire CFO at $92,000 a month
Crypto.com earns license of operation in South Korea
Elon Musk drags Twitter to court for fraud
Binance CEO Urges To Move Funds From WazirX To Binance
Bitcoin falls to $23K on U.S. jobs report