Many experts feel that sometime in the future, the prices of bitcoin will go as high as $100,00 landing it to the six-digit zone. However, the prices are being said can even be higher than 100k. There are plenty of insiders in the industry who are analysts and experts who believe that the price of BTC will very easily touch $100,000.
Simon Dedic
One such expert is Simon Dedic, cofounder of Blockfyre a crypto-analysis agency. On June 4, 2020, estimated that BTC will reach as high as $150,000. Moreover, the tweet Dedic made showed quite a few predictions. That includes Ethereum reaching $9k, BNB reaching $500, LINK touching $200, XTZ $200, and VET would be $1. On the contrary, Dedic is not the only crypto expert who thinks that bitcoin will touch six-digit in the future.
Theta Seek
Theta Seek, one of the famous traders on 5th June told his 5,528 followers on Twitter that bitcoin can reach $100,000. However, for this, the investments need to amount to $90 million every day. Further, he said that he has seen people spending more than $9 for coffee. Hence it can be assumed that if 10 million people purchase bitcoin regularly, that costs $9 each per day for sustaining the price scales.
Additionally, when someone replied saying as the price gets high the supply increases exceeding miners. Seek replied that the data suggested something else, entirely for the past 3 ATHs, HOLD-ers are not significantly selling portions. Hence, for more than two years 60% of the bitcoin has not changed its place. However, even though the statement raised was true, bitcoin's long-term supply will gradually equalize with mining (fresh) supply.
Mark Yusko
Others have raised a similar view of bitcoin reaching $100k. The CEO of Morgan Creek, a capital management firm, Mark Yusko, during an interview on 6th May 2020 said bitcoin will reach $100k. Not only that he added that in the years 2021 or 2022 this will possibly happen.
He later added that bitcoin can easily touch $400k to $500k. Mark said that when compared to gold, i.e. if the market value of gold equals the market value bitcoins. That he thinks is rational, and one might notice the value reaching $400k to $500k sometime in the future.
Peter Brandt
Peter Brandt has tweeted that halving bitcoin was overrated grossly, however agreeing that the value of bitcoin will be six-digits. This was back from 5th December 2019, from one of the crypto updates by Peter Brandt. The video update showed that Brandt said bitcoin will touch $100k domain somewhere down the timeline. However, he added that the crypto market would have to be sullen with investments.
He pointed out that bitcoin's prices could fall out by July, i.e. 30 days from then and mentioned that it was tied between crossroads. On the contrary, his prediction was before COVID-19 pandemic and the event of Black Thursday that happened on 12th March 2020.
And Others
The list does not end here much trust that bitcoin will very easily reach the domain of six-digits. From Anthony Pompliano executive at Morgan Creek to Plan B @100trillionUSD. And Pantera Capital's Tim Draper- venture capitalist, Nicholas Merten- crypto analyst and Max Keiser RT host.
What is it about?
Many over the years have been asking whether bitcoin will touch $100k per coin level or not. To answer those questions, you saw a few names in this article and there are many others over the internet. They believe that it will go up to $100k each bitcoin. These are the old-timers and crypto investors who understand the market, through research and experience. At the moment bitcoin is being priced at $11,250 on May 8th, 2020. It is expected to increase gradually.
Conclusion
Bitcoin is prone to risks and is exposed to the volatile market environment. Hence, sometimes it could become confusing. But sites like bitcoin evolution will ensure a safe transaction, that you can keep for the long term and wait till it reaches the maximum rates. I hope through this article I was able to point out some strong agreements saying bitcoin will reach $100k. Hence, let us make our investments and sit tight.
* This is a contributed article and this content does not necessarily represent the views of techtimes.com
