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The cryptocurrency Bitcoin‘s price today made a push to reach the $53,000 level but failed to surpass the $52,816 mark. As of writing this article, the price has fallen below the $52,000 level. This situation is fueling debates about the trajectory of the leading cryptocurrency Bitcoin’s price. Predictions about the price continue to come in within this context.
Can Bitcoin Price Reach $100,000?
No one is saying no to this question anymore. The cryptocurrency Bitcoin’s price could reach these levels, though not immediately. As most investors now see the $100,000 mark as an achievable target, it is expected that the cryptocurrency Bitcoin’s price could reach and even exceed this level during the bull season’s peaks, as long as this belief persists.
Another question on everyone’s mind is when Bitcoin will reach $100,000. Will it happen suddenly, or will it take some time to materialize? Today, analyst Michael van de Poppe provided an assessment on the matter. According to his statement from source X, he said:
“The entry of spot Bitcoin ETFs is great, but it doesn’t mean that the markets will jump to $100,000 all at once. There are more participants involved.”
Emphasis on Spot Bitcoin ETFs
In the analyst’s statement, it is beneficial to focus on the particular emphasis on spot Bitcoin ETFs. This is because many attribute the rise to the motivation behind Bitcoin ETFs. While analyst van de Poppe acknowledges the importance of spot Bitcoin ETFs, he also states that they alone cannot be the force that instantly pushes BTC to $100,000.
On the other hand, another point that the Bitcoin and cryptocurrency analyst wants to emphasize is the reality that there are more participants in the cryptocurrency market than just those involved with spot Bitcoin ETFs. Therefore, the analyst indicates that these investors will continue to be the decisive factor in the market.
Looking at the Bitcoin price as we write this article, we witness that the flagship of the cryptocurrencies is trading at $51,842. Van de Poppe had previously pointed to a range of $54,000 to $58,000 for Bitcoin. However, a slight pullback in the cryptocurrency Bitcoin’s price today does not go unnoticed.
