Bitcoin for $100K by the end of 2021… In our new LATOKEN review, let’s try to figure something important out… Will Bitcoin be able to reach a critical psychological milestone in the next two months? What might happen in the digital asset market in this case? Read in our LATOKEN review!
Many analysts claim that by the end of 2021, the Bitcoin price may reach $100,000.
For example, such a forecast was given by analysts of the British banking corporation Standard Chartered, Bloomberg’s chief commodity strategist Mike McGlone, Blockstream CEO Adam Back and the well-known author of the Stock-to-Flow (S2F) PlanB model. Experts have assessed whether Bitcoin can rise in price to $100,000 in the next two months.
Bitcoin for $100K: is this goal achievable?
According to Adam Back and other analysts and strategists, the likelihood of Bitcoin reaching $100,000 by the end of 2021 is relatively high. This is because the dynamics of the cryptocurrency match well the dynamics of the asset with a low value. Another factor contributing to the rise in the Bitcoin price is the high demand for the asset from institutional players. It has never faded, despite the record price of the first cryptocurrency.
$100,000 might be called an iconic psychological mark after overcoming $50,000, which many investors are guided by. Despite the fact that many traders and crypto enthusiasts hope to reach this mark by the end of the year, one cannot be 100% sure. Keep in mind that the crypto market is very volatile.
The crypto market seems strong
Growth up to $100,000 in percentage terms is only 55–65% of the current levels. Let’s remember that in the very short history of Bitcoin’s existence, there are enough examples of even stronger growth in a shorter period. For example, in February 2021, Bitcoin rose by 90% in just one month.
Usually, at the end of the year, as a rule, exchange trading feels more confident than in Autumn. The latest events also show a positive background on the part of Western politicians. It can bring more good news and provoke a new rally.
When you are dealing with crypto, you cannot be sure of anything. But such a scenario might be quite possible. However, this does not mean that one should count only on such a course of events. If Bitcoin fails to exceed $100,000 this year, this probability still remains in the next year.
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LATOKEN crypto exchange does not provide any investment, tax, legal, or accounting advice. This article is written for informational purposes only. Like other assets, cryptocurrency is subject to market risk. Please do your own research and trade with caution.