Bulls and Bears Battle: Bitcoin (BTC) Price Forecast at $100,000 • Cointacted (2024)

The broader crypto market has become optimistic about the upcoming trend as the Bitcoin price is coiling up. The price of Ethereum is scaling up, many large-cap cryptos are gaining strength, and some mid-cap tokens are also performing well. In the meantime, the bulls and bears appear to have placed their bets, which could intensify over time. This may have a severe impact on the BTC price rally, which could be witnessed as soon as the token marks a new ATH.

Order books are considered one of the best tools to know what’s going on in the market. It is a list of buy orders or bids and sell orders or asks with discrete units. They give an idea of at what price the bulls wish to accumulate BTC and the bears are willing to liquidate.

The recent data shared by an analyst, anonymously known as Bitcoin Munger, shows that sellers are building a new’sell wall’ while buyers want the BTC price to slash hard below $40,000.

The above data shows the sellers are placing huge bets or ‘asks’ just above the ATH at around $70,000 to $72,000. Therefore, the possibility of the price facing a huge rejection after reaching these levels is pretty high. On the other hand, the buyers still expect the price to plunge hard and reach levels below $40,000 as massive amounts of bids are being placed within the $30,000 to $40,000 range. Therefore, considering the above data, analysts mention two main observations,

The sellers are moving to sell liquidity to the $70,000 levels as they know the current sell wall at around $55,000 to $60,000 may not hold for long Many buyers still hope to buy BTC within the range of $30,000 to $40,000. Hence, they will be forced to bid higher, which may offer more fuel to the rally Besides, if the orders are adjusted, then the buy orders are likely to go higher as they have been there for a long time, meanwhile, sell orders have been adjusting higher this week. Therefore, the analyst believes a new ATH for the Bitcoin (BTC) price could be just a matter of time but the following Bitcoin (BTC) price action could be much more interesting.

Sahana Vibhute A passionate cryptocurrency and blockchain author qualified to cover every event in the crypto space. Researching minute occurrences and bringing new insights lie within the prime focus of my task.

The year 2020 has been quite a rollercoaster ride for the ‍cryptocurrency market, especially for ‌the king of ‌all cryptocurrencies – Bitcoin (BTC).‌ With a market cap of over $200 billion, BTC enthusiasts have been eagerly waiting to see what lies ahead for the digital asset. And with the⁤ recent halving event, there has been much speculation about BTC’s future price.

But ‌first, let’s quickly‌ go over the basics. Bitcoin is a decentralized digital currency that operates without a central authority or bank. ‍It was created in 2009 by a mysterious person or group under the pseudonym Satoshi Nakamoto. The limited supply of‌ 21 million BTC and the scarcity created by ‍the halving event every four‍ years are key factors that have driven the price of BTC to new heights.

Now, ⁢let’s dive​ into the exciting topic of the bulls and bears battle for​ BTC⁤ price‌ forecast. This article will discuss the ‌possibility of Bitcoin reaching a whopping $100,000 in ⁣the ‌near future, with insights from experts and market analysis.

Bullish Trends for Bitcoin

There are several factors that signal a bullish trend for BTC in the coming months and possibly years. Let’s take‍ a⁣ look at a few of them.

1. ​Increased Institutional Investment: Institutional ‍investors have taken ‌a keen interest in ​BTC in recent years. Companies like Square and MicroStrategy have been adding BTC to their balance sheets, and PayPal has announced that it will allow its users to buy, hold, and sell BTC. This influx of institutional investment is a ⁤sign of growing confidence in BTC as a legitimate asset class.
2. Economic Uncertainty: The COVID-19 pandemic and the resulting global economic crisis have pushed investors towards alternative assets like BTC. With governments around⁢ the world ​printing money and economic stimulus packages ‌being rolled out, there are growing concerns about inflation and the devaluation of fiat currency. As investors look for​ ways to diversify and protect their⁣ assets, BTC is emerging as a popular ​choice.
3. Limited ⁣Supply and Halving⁢ Event: As mentioned earlier, BTC has a limited‍ supply of 21 million ‍coins, with approximately 18.5 ⁣million currently in circulation.​ This scarcity, combined with the recent halving event, has ⁢historically led to a‌ surge in BTC’s price. The halving event, which occurs every ⁤four years, decreases the reward for mining BTC by half, thus reducing the supply entering the market.

Analysts’ Forecasts for BTC⁤ Price

Now that we’ve ‍looked at the bullish trends, let’s ‌see what experts​ are predicting for BTC’s future price.

1. Bobby Lee, CEO of Ballet Wallet, predicts ⁣that BTC will ‌reach $100,000 by December 2021. He‍ believes that​ the continuous influx of institutional investment and the halving event will drive BTC’s price to new heights.
2. Tim ‌Draper, a renowned venture ‌capitalist​ and BTC bull, believes that BTC will reach $250,000 by 2022. He argues that the limited supply and increasing demand for BTC will cause a significant spike in its price.
3. Max ‌Keiser, host‍ of the Keiser Report, has been a long-time BTC advocate. He predicts ‍that BTC will ⁢reach $400,000 in the next⁤ couple of years due to the economic uncertainty and growing‌ interest from institutional investors.

Bearish Trends for Bitcoin

While the bullish trends are promising, there are some bearish factors that could potentially hinder BTC’s surge to ⁣$100,000.

1. Government ​Regulation: As BTC gains​ more mainstream attention, governments around the world are starting⁤ to take notice. There have been talks of stricter regulations, which could potentially impact BTC’s price. However, tighter regulations could also bring more legitimacy and trust to the market, which could ultimately benefit BTC’s⁢ price in the long run.
2. Volatility: BTC is a highly volatile asset, with prices⁢ changing drastically in a short period. ⁤This volatility could turn off potential investors and prevent BTC from reaching $100,000. However,⁤ as BTC matures and more institutional investors enter the market, ⁤experts believe that volatility will decrease.

Final Thoughts

While no one can predict with certainty what BTC’s price will be in the near future, the overall sentiment seems to‍ be bullish. As more individuals and institutions embrace BTC, its potential for growth and adoption increases. And with a limited supply and halving events, there is a good chance that BTC’s price will eventually⁣ reach $100,000 and beyond.

However, it’s important to remember that BTC is a highly volatile asset, and investors should proceed with caution and do their⁢ own research before making any investment decisions. As with any investment, ​there are risks involved, but there is also the potential for great rewards.

In ​conclusion, the⁢ bulls and ‌bears continue to battle it out for BTC’s price forecast. While some experts predict a surge to $100,000 and beyond, others remain more conservative in their forecasts. Only time will tell who will come out on top, but one thing ​is for sure – BTC’s journey to $100,000 is shaping ⁤up to be an exciting one.