Will Bitcoin hit $100k?
Bitcoin is created to have a limited supply, which makes only 21 mln coins. Today it is becoming harder to get, as 88% of the whole supply is already mined. It signifies that only around 2,5 mln are left to extract.
Will Bitcoin hit $100k?
Bitcoin is created to have a limited supply, which makes only 21 mln coins. Today it is becoming harder to get, as 88% of the whole supply is already mined. It signifies that only around 2,5 mln are left to extract.
Bitcoin is a completely decentralized digital currency that nobody can manipulate. It means, there is no single point of failure.
The fact that Bitcoin is limited is considered to be an advantage, giving the coin an anti-inflationary tendency. The supply of Bitcoin makes it valuable and prevents devaluation.
Why is Bitcoin rising again?
The current Bitcoin price at the moment of writing the article stands for $10,597, while Bloomberg estimates it to reach $15,000 in the next 30 days.
A well-known Bitcoin investor Jason A. Williams, the Co-Founder, and Partner at Morgan Creek Digital believes that by the end of October 2020 Bitcoin’s price would reach a new all-time high (ATH) — meaning that it will go over $20,000.
Some bitcoin enthusiasts, like former Goldman Sachs manager Raoul Pal, predict Bitcoin a bright future, where its price rises up to $1 mln in just 3 years! In his report, Pal also says that he expects Bitcoin to strike a market capitalization of $10 trillion.
Mike Novogratz and Dan Held, the director of development of crypto exchange Kraken, support a positive future for Bitcoin. Held in his turn predicted a rise in Bitcoin price to $1 million when the coin enters a “supercycle” by the end of 2021.
Leading crypto expert, PlanB, created a poll in his Twitter account, that has shown 51% of Bitcoin investors believe the price of the world’s most valuable digital asset will rise up to $100,000 before December 2021.
Other famous figures in the crypto world, such as venture capitalist Tim Draper, Morgan Creek’s executive Anthony ‘Pomp’ Pompliano, Pantera Capital, RT host Max Keiser, crypto analyst Nicholas Merten, and Plan B (@100trillionUSD) also predict Bitcoin price will reach a 6-digit price.
They heard of Bitcoin, but they don't own it
And if you think that all of the predictions considering the price of Bitcoin rising up to six-digit or even 7-digit range are way optimistic, you must notice what Jesse Powell, co-founder, and CEO of crypto exchange Kraken thinks of as the most valuable digital asset.
“Most people have heard about Bitcoin, but they don’t own any Bitcoin. They don’t know what the future of Bitcoin is. I think if everyone knew about Bitcoin and the potential of Bitcoin and how great it was, the price would be like a trillion dollars a Bitcoin. We would all just be switched over to Bitcoin and not be using anything else…”
According to Fidelity Investments, 36% of major investors in the United States and Europe already own some kinds of crypto assets, and more than a quarter claimed their holdings included Bitcoin.
For many years people keep questioning if Bitcoin is going to reach $100k or not. While they are asking, some famous figures mentioned above, and other large players on the financial market are already investing. They strongly believe that Bitcoin will rise up to $100k. They are "sourdough" of the cryptocurrency world who know the market through research and their own experience.