With all the new buyers of bitcoin, people are asking can bitcoin reach 100k? Because bitcoin is freely traded on the global markets, it could hit any price. In 2007 bitcoin rose from $1,000 to nearly $20,000. If we apply the same amount of appreciation from current levels, that would be a price of $300,000.
Like any asset, bitcoin will rise and fall as a result of market forces. No one knows how high or low the bitcoin price will go, and many major companies are investing in bitcoin. Some think that bitcoin prices could go much higher than $100k, but this is pure speculation.
Here are some of the things that could help bitcoin in its next major rally:
Limited supply
There will only ever be 21 million bitcoin, which is a very small amount when compared to most major assets. There are trillions and trillions of US dollars, which is what the price of bitcoin is generally measured in.
New investors
Bitcoin is attracting new investors. While Wall St was initially suspicious of bitcoin, there are now major investment groups who are buying the token.
Fiat currency issues
Central banks have create tremendous amounts of new fiat currency, which may lead to asset inflation. Some market analysts think this could help to drive bitcoin prices much higher.
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