Bitcoin’s popularity and rise in value don’t seem to be stopping. Even though many believed that this cryptocurrency will plunge after breaking the 2017 record in value and topping $20,000 back in December 2020, this cryptocurrency has a completely opposite turn of events.
Not only did it manage to remain stable, but it continued to rise. After the famous Tesla investment in February 2021, Bitcoin crossed the $50,000 mark. That is the reason why many experts believe that Bitcoin will not stop rising and it is yet to reach its peak. Not only that, but they claim that it has the potential to climb as high as $100,000.
We are going to take a look at this case and see whether this cryptocurrency has the potential to do that. Let’s dive into the details.
Before we explain whether Bitcoin will rise or not, it is important to know its current state. At the moment, Bitcoin is valued between $55,000 and $60,000. Its price fluctuates daily, which is no wonder, considering the fact that this is a highly volatile cryptocurrency.
There are over 5 million users from around the world and thousands more are joining with each passing day. The number of investments in Bitcoin is constantly on the rise, which is why it continues to remain stable. When people invest and earn a certain amount of Bitcoins, they want to sell them and generate the highest possible profit.
But, due to Bitcoin’s high volatility rate, that can be a problem sometimes. Luckily, reputable trading sites are there to help them out. They use AI systems that analyze the market by collecting all the data about Bitcoin. The data is used to make accurate predictions on the future fluctuations of this cryptocurrency. One of those platforms is https://the-newsspy.io/.
Thanks to these services, thousands of people register each day in 2021 and are more than willing to trade with Bitcoin. That is also the reason why trading sites had a big breakthrough this year and their popularity is soaring.
End of Year Projections
Now, let’s see why experts believe that Bitcoin has the potential to reach $100,000. At the heart of these claims lies halving events. History showed us that Bitcoin always reaches peak value exactly a year and a half after these events end.
Just a reminder, a halving event takes place every 4 years and its purpose is to control the flow of Bitcoins into the network. The last halving event took place in May 2020. Even though it was believed that Bitcoin’s value of around $40,000 will be the end, this cryptocurrency proved them wrong. It kept rising and rising.
Following the analogy of peaking in value around a year and a half after halving events end, it is projected for Bitcoin to reach its peak value around autumn of 2021. Many traders believe this claim, which is why they started investing heavily in the cryptocurrency. Judging from the fact that Bitcoin’s value rose from $20,000 to $60,000 in less than 4 months, it is easy to see why it has the potential to reach a six-figure value in the next 5 months or so.
What About the Distant Future?
As for the distant future, it is very hard to determine what will be the state of Bitcoin. The fact of the matter is – Bitcoin is a user-orientated cryptocurrency that cuts off banks and authorities from transactions. That makes it highly decentralized and impossible to control. Authorities are never fond of something that they cannot control, which is why they deem Bitcoin as an outlaw currency.
But, there are some optimists – they’ve stated that Bitcoin will become a universal global payment method in the distant future.