I wonder when the price of Bitcoin will reach $ 100k +. Because at present the approval of bitcoin is increasing in different countries. And different countries based cryptocurrencies keep coming to the market. From that point of view, it is expected that the price of Bitcoin will increase the most. But in the next few years, the price of Bitcoin will continue to rise, so long-term Bitcoin will continue to improve. What is your opinion?
If you expect bitcoin price to reach $100k by 2022, then I think it will be difficult for bitcoin to reach $100k this year. Since entering 2022 until now the price of bitcoin is still experiencing a significant price correction, even now the price of bitcoin is back down to the level of $35k. Therefore, I assume bitcoin will still drop to the $33k support area.
Bitcoin did move up to a price of $46K in early February, but unfortunately the sentiment of geopolitical issues that occurred between Russia and Ukraine made the bitcoin price experience a significant correction, even in the last 7 days bitcoin has decreased by 18.70%, and this shows a fairly bad market condition for bitcoin holders at the moment, with the current market conditions, I also have a little doubt that bitcoin will be able to reach $100K in the near future, if possible, of course bitcoin needs a strong push to be able to rebound from the price support level will be on the market later.
Right. Indeed, the bitcoin price correction that occurred in the last few weeks was overshadowed by global sentiment related to geopolitical conditions between Russia and Ukraine, plus the threat of an interest rate hike by the FED which caused bitcoin prices to fall. Even though the price is starting to rise, I predict the bitcoin price will not pass the ATH level last year.