Bitcoin has been on a tear lately. The cryptocurrency is up more than 400% since the start of the year, and it’s showing no signs of slowing down.
Investors are betting that the digital coin will continue to rise in value as more businesses start to accept it as payment and as central banks around the world explore its potential use in their own monetary systems.
The most recent surge in Bitcoin’s price has been driven by two factors: increasing mainstream adoption and a weakening US dollar. PayPal’s announcement that it would start allowing customers to buy, hold, and sell Bitcoin was a major boost to the cryptocurrency’s legitimacy, and sent its price soaring.
NOTE: This article discusses the potential for Bitcoin to reach a value of 100,000 USD. While this is a possibility, it is important to note that there are no guarantees when it comes to investing in cryptocurrency, and investing in Bitcoin carries a high degree of risk. Before investing in any type of cryptocurrency, please do your own research and consult with an experienced financial advisor. Investing in any form of cryptocurrency carries the risk of losing all or part of your investment and should only be done with funds that you are willing to lose.
And as the dollar weakens against other currencies, investors are turning to Bitcoin as a safe haven asset.
There’s no telling how high Bitcoin’s price will go in the short-term, but some analysts believe it could reach $100,000 per coin by 2025. That might seem like a stretch, but it’s not out of the realm of possibility.
After all, if PayPal can get behind Bitcoin, who’s to say that other major companies won’t follow suit? And if central banks start using Bitcoin as a reserve currency, its price could skyrocket.
So will Bitcoin actually go to $100,000? It’s hard to say for sure. But given the cryptocurrency’s recent momentum and the increasing mainstream interest in it, it seems like a real possibility.
3 Related Question Answers Found
Bitcoin has seen a lot of UPS and downs in its price since it was first created in 2009. The digital currency reached its all-time high in December 2017 when it hit $19,783.
06. However, it then crashed down to around $3,200 just a year later.
When it comes to Bitcoin, there is no doubt that it has been on a tear lately. After starting the year off at around $1,000, Bitcoin has now surged past $4,000 and is showing no signs of slowing down. This has led to a lot of speculation about where Bitcoin could be headed next.
When it comes to investing in Bitcoin, there are two main camps. One camp believes that Bitcoin is a new kind of asset with the potential to revolutionize how we interact with the global financial system. The other camp believes that Bitcoin is a speculative bubble that will eventually burst.