Bitcoin’s price predictions are back with a vengeance, and the $100K milestone is the glittering prize that has everyone’s attention.

Among the experts, Michael Saylor, the ever-optimistic face of MicroStrategy, believes Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term could break this barrier by the end of 2024. His company continues to hoard BTC like it's going out of style, with investors clamoring for more exposure to the digital asset.

Meanwhile, Cathie Wood of Ark Invest is going acapella in the bullish choir. Wood predicts that Bitcoin “has a long way to go”, citing institutional adoption. In her view, Bitcoin is more than a speculative asset—it’s a hedge against economic turbulence and fiat currency instability.

But is $100K realistic, or are we drinking too much of the crypto Kool-Aid?

$100,000 - Can Bitcoin See It By Year End?

Cathie Wood’s Ark Invest remains at the forefront of Bitcoin evangelism, doubling down on its BTC holdings and projecting a seismic shift in institutional adoption. Wood argues that as traditional assets falter under economic uncertainty, Bitcoin’s decentralized nature will attract hedge funds, pension funds, and sovereign wealth funds.

Based on @dpuellARK’s on-chain analytics and analysis, the bull market in bitcoin is in good shape. After its halving in April, growth in the supply of bitcoin dropped to 0.9%, below the long term growth in the supply of gold for the first time! https://t.co/RHi21HKukV

— Cathie Wood (@CathieDWood) November 15, 2024

Her optimism isn’t baseless. Several high-profile institutions have dipped their toes into the Bitcoin waters, signaling that the stigma surrounding crypto is fading. Ark’s research suggests that if just a fraction of institutional money flows into Bitcoin, $100K could become a conservative estimate.

Will #Bitcoin Break $100K by New Year's Eve?

— Michael Saylor⚡️ (@saylor) November 17, 2024

Speaking on CNBC on Friday, Saylor said, “I think it’s going to go up from here. I’m planning the $100,000 party and think it will probably be New Year’s Eve at my house. So I would be surprised if we don’t go through $100,000 in November or December.”

Bitcoin is Manifest Destiny for the United States. My discussion of The Red Wave, MicroStrategy's $42 Billion Plan, the compelling logic of the Strategic #Bitcoin Reserve, and getting ready for the 100K party, with @MorganLBrennan. pic.twitter.com/fvkwRnCzlU

— Michael Saylor⚡️ (@saylor) November 14, 2024

While the $100K dream has compelling arguments behind it, skeptics remain. Bitcoin’s infamous volatility Volatility In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, or stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Trad In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, or stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Trad Read this Term, regulatory scrutiny, and potential competition from central bank digital currencies (CBDCs) pose significant risks.

All-in-All

But, let’s get down to brass tacks. The re-election of Donald Trump has been a catalyst for Bitcoin's recent rally. Trump's administration is perceived as more crypto-friendly, with promises to establish a national Bitcoin reserve and appoint a pro-crypto chair to the Securities and Exchange Commission (SEC). These anticipated policy shifts have bolstered investor confidence, contributing to Bitcoin's ascent to record levels.

Institutional interest in Bitcoin has also intensified, with substantial inflows into Bitcoin exchange-traded funds (ETFs). For instance, BlackRock's iShares Bitcoin Trust has attracted significant investments, indicating a growing acceptance of Bitcoin among mainstream financial entities. This institutional backing provides a strong foundation for Bitcoin's price appreciation.

From a technical analysis perspective, Bitcoin's breach of previous resistance levels has set the stage for further gains. Analysts suggest that surpassing the $75,000 mark opened the path toward the $100,000 target.

Bitcoin at $100,000 - A Pipedream, or On the Cards?

In summary, positive market sentiment, supportive political developments, increased institutional adoption, and favorable technical indicators positions Bitcoin well to potentially surpass the $100,000 threshold in the near future.

Bitcoin’s journey to $100K isn’t guaranteed, but the stars seem to be aligning. Yet, as any seasoned crypto investor knows, the market has a knack for humbling even the most confident predictions. Whether Bitcoin hits $100K or falters, one thing is clear: the ride will be anything but boring.

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