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100K Bitcoin Price Predictions Very Likely – Industry Experts Explain Why

  • Goldman Sachs believes Bitcoin is on its way to $ 100,000 due to increased adoption, and a potential gold “flip” in the future.
  • Despite hundreds of death declarations by notable personalities, BTC has recently turned 13 years from zero block, among other achievements.

Investment management company Goldman Sachs Group is convinced that Bitcoin (BTC) could hit the $ 100,000 price forecast of market analysts. This is despite the fact that the digital asset is still below the $ 50,000 mark. The company bases its conviction on evidence of increasing takeover of digital assets, saying this could increase Bitcoin ‘s share of the’ value store ‘market.

The “value market store” includes gold and Bitcoin, or so-called “digital gold”. Currently, Bitcoin-adjusted floating market capitalization is just under $ 700 billion, or 20% of the market for a value store, according to Goldman. On the other hand, the gold currently available for investment is $ 2.6 trillion.

Why Bitcoin could be on the way to $ 100,000

Zach Pandl, co-head of the global strategy for emerging currencies and markets, said in a note on Tuesday that the price would reach 100K if the market share of the value of Bitcoin rose to 50% in the next five years. This scenario would result in an annual merger yield of 17 or 18 percent. El Salvador President Nayib Bukele also recently predicted that the 100K cap would be reached this year.

In addition, the note stated that institutional acceptance can be prevented by depleting actual Bitcoin resources. Pandl, however, argued that this would not affect the demand for the cryptoasset.

Another exciting commentator is Bloomberg editor Eddie van der Walt. According to him, certain events in 2021 helped validate cryptocurrencies as part of the American financial system. These include the Coinbase IPO, the launch of crypto services with PayPal and the approval of the first Bitcoin ETF in history. He said:

A year or two ago, people claimed that cryptocurrencies would go to zero and were worthless; I don’t think anyone says more.

According to Bitcoin Obituaries data from Bitcoin education portal 99Bitcoins, BTC was declared “dead” 124 times in 2017, about 15 times in 2020, and 45 times in 2021. And yet, the digital asset is up 4,700% since 2016.

BTC Achievements

Institutional investors are increasingly embracing cryptocurrencies, and prefer Bitcoin, the publisher says. Companies like Visa, PayPal, and traditional banks now offer crypto-related services, developing a «brilliant future for cryptocurrencies.»

Finally, Van der Walt says that Bitcoin has been time – tested after going «through complexities in its early years.» The digital asset has emerged stronger at the other end, which has increased the confidence of individuals and institutions in becoming a portfolio.

In addition to hitting a 70K high since its inception, BTC is the fastest growing asset on the market to reach a valuation of $ 1 trillion. On Monday, BTC celebrated its 13th year with a new ATH hash rate.

And while the asset dictates the general direction of the cryptocurrency market, altcoins are starting to make big strides in DeFi, NFTs, and the Metaverse – for the greater benefit of the entire crypto industry.

Jean Simmons

Jean Simmons has been a cryptocurrency enthusiast since 2014 and has been dedicated to the topic on a daily basis since she first learned about Bitcoin and blockchain technology. Besides cryptocurrency, Jean studied computer science and worked for two years at a blockchain startup. At Mercayala, he is responsible for technical issues. His goal is to bring cryptocurrencies to the world in a simple and understandable way.

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