⭐ Merited by temple (2)
Since the last few months bitcoin has experienced a very deep price correction from the price of the ATH level. But right now, the bitcoin price has continued to rise until it has risen to the current $44k range. Therefore, if the target price for this year is $100k, then I think it will be difficult because to reach the target price of $100k there needs to be a long rally and strong support from the crypto market. however, if the uptrend continues, bitcoin could hit its $100k price target at least next year.
Constantly good news from the Russian side: Russia considers accepting Bitcoin as a payment when selling oil and gas to their friendly countries and now they are ready to adopt bitcoin and crypto in the economy their. I hope bitcoin will hit 50k in april and no further drop this year.
100k$ its not difficult with bitcoin but certainly not this year it will take one more super cycle for bitcoin to hit 100k$.
I am having some troubles - especially with your last line.
You are recognizing that BTC prices are not far from $100k.. but also seeming to suggest a need for some kind of exponential event.
Remember BTC prices have already made it to $69k.. and thus $100k is ONLY about a 45% increase from that $69k price. Yes, we are currently at a bit more than $44k, so $100k would be right around 125% price rise from here...
Yeah, such price appreciation up to $100k would not be a cake walk, but I would not presume bitcoin to be incapable of decently correction minimized price jumps of 5x-20x within relatively short periods of time. Current market cap does not cause those kinds price runs to be out of the question, even if such price runs are likely to be lower chance events... in other words, it seems that people who speculate about $100k as being some kind of outrageously high price for bitcoin in which everyone is too rich to sustain it, seem to be failing refusing to recognize that people had similar ideas about $10k - especially in 2015, 2016 and 2017.. and even when many faces were melted.. bitcoin got to $10k and even doubled $10k for a short period of time without a whole hell of a lot of effort - even though it took another 5-7 years before $10k became a not too likely to be seen again bottom.... good luck to anyone still waiting for BTC prices in the $10k arena, even though not that long ago, $10k was a pretty difficult to imagine price for a lot of folks - beyond the seemingly bitcoin delusional.
I would agree, but I don't think it is all too much about the "if" here. Rather about the "when", taking into consideration shenanigans as they are about to be approved by the European Union. I think that does slow down the almost inevitable increase in Bitcoin's price on its way to 100k. Making unhosted wallets such a pain in the ass is bad and will slow down adoption. People here might know when and if to pass KYC and so on. But those from Europe who are new to crypto and like the idea of setting up their own wallet and play around, if they now have to go through KYC for every address they set up for themselves, that sucks so much!
Aren't we even well advised to set up new addresses frequently in order to preserve privacy? Now you soon might be forced in the EU to get them all verified, Imagine the hassle! I repeat myself, but I guess that is a pretty big bump in the road to 100k.
I doubt that there are as many straight line factors to determine bitcoin's price as you seem to be expecting, and in some sense, the European Union may well be attempting to shoot certain kinds of precoiners in the foot - and also to drive private use of bitcoin underground, and perhaps they are going to have to start to imprison and start killing bitcoiners who are privately using their bitcoin to put their legislation to the real test regarding if normies are actually going to be following their attempts to impinge and control bitcoin. In other words, attempting to drive bitcoin underground also has effects to drive bitcoin out of Europe and into other jurisdictions, and are you going to presume that other jurisdictions are going to attempt similar types of legislation? Perhaps?
Perhaps bitcoin is going to be driven to various "3rd world" locations (or "2nd world") that are not inclined to attempt such restrictive measures. Sure, bitcoin is an evolving phenomena, and we are not going to have exact examples, yet I consider China's late 2016 and early 2017 efforts at locking a lot of their population out of bitcoin (by disallowing them to remove value from exchanges prior to KYC) to have had caused a certain segment of their citizens (those who had value locked on exchanges and unwilling/unable to venture outside of that) to have had gotten screwed out of the 2017 BTC price run. You can argue that bitcoin suffered for that removal of liquidity, but I doubt that the evidence really supports any kind of meaningful claim except for some Chinese citizens having had gotten screwed by their government.
I believe that there are other examples such as Nigeria attempting pretty strong crack-down attempts on bitcoin, but overall Nigeria still has pretty large bitcoin adoption and the people getting mostly screwed are the Nigerians who are trying to toe the governmental line.. and similar arguments could be made in regards to the USA and Canada in terms of some of the citizens getting scared from buying bitcoin because they get scared about various threats from some of the lawmakers.... and they fail/refuse to invest, and really end up screwing themselves.
I believe that there are some earlier European examples that attempted to go in the more restrictive direction, and they largely end up scaring only a portion of the bitcoin community, and so there are going to be trade offs in terms of HOW BIG the European Union wants to strive to go, and the extent to which other jurisdictions might copy cat them or if they are scaring bitcoin usage into other jurisdictions and end up having little to no effect on bitcoin's price.. and surely in regards, to bitcoin's price governmental efforts to suppress or control it will ONLY be one of the factors, and it seems that overall low levels of Bitcoin adoption (still quite below 1%) is likely going to continue to have large effects that will likely offset Government efforts, unless the governments cannot muster enough will power to start executing bitcoiners, and I doubt those kinds of tactics are going to go over very well with bitcoiners.....
So, if your Bitcoin investment thesis is being suppressed or curtailed because you are fraidy cat of BIG bad government, then I would argue that you are likely screwing yourself more than anyone in your failure/refusal to sufficiently and adequately prepare for UP prices in bitcoin, whether $100k comes in the coming months or it takes a few more years to play out... If you do not have enough bitcoin to prepare for UP, then hopefully you are not spending too much time preparing for DOWN prices that might not happen.