Here’s why? Bitcoin reaching $100k is just a “matter of time”
Hello friends today we will talking about Bitcoin reaching $100k. Nearly $24,000 is being paid for one bitcoin, which is more than 60% below its peak. This does not alter the fact that investors remain optimistic about the asset’s long-term development, though. Over 60% of Bitcoin’s supply has remained illiquid for the past year, according to a new research.
Therefore, it is not surprising that Mike McGlone of Bloomberg Intelligence believes it is just a “matter of time” until Bitcoin reaches $100,000. By year’s end, we could already be in route to setting new records.
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Bitcoin is a mathematical prowess
The fact that Bitcoin has been built in such a manner that it can reach $100k, $200k, $500k, and even $1 million is not just a matter of numbers. The mining earnings are halved in Bitcoin every four years, or by 50%. This lowers the market’s active supply and starts a significant bull run. Every halving in Bitcoin’s history has ignited a bull run.
Bitcoin has a 21 million cap on its production and an essentially limitless market. The price of BTC will soar if we realise that there are over 7 billion people in the world and that sooner or later, everyone will learn about Bitcoin like they did about Gold. The demand for Bitcoin is enormous, and over the next ten years, we may potentially see values surpass $1 million.
In addition to being used in remittance markets and as a store of wealth, bitcoin is now also used in regular transactions thanks to the lightning network. With all the other traits that Bitcoin already possesses, this makes it vital.
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Mike McGlone on Bitcoin’s $100 target
The recent increases in interest rates and the decline in inflation may be advantageous for Bitcoin and other risky investments. Mike thinks that $100k and $2000 are the current targets for Bitcoin and Gold, respectively. He said that assets with a fixed supply are anticipated to increase in value at this time.
Mike thinks that as time passes, Bitcoin will become more reliable and secure as an investment. It may also be thought of as a high beta variation of Treasury bonds and gold. If the commodities market maintains its downward trend in the next months, Bitcoin may also rise
What do you think of Mike’s claim that it will only be a “matter of time” until Bitcoin reaches $100k? Do you believe it will occur in 2022? Tell us in the comments section below. Please like and share our material with your friends if you find it to be informative.
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