It’s no news anymore that Bitcoin has surpassed it’s all-time high (ATH) on Wednesday, bringing its price to about $67,000 On Wednesday. But how high can the digital asset really climb?
Quite a number of analysts have been predicting new highs for Bitcoin for a long time now, and surely their forecasts truly came to pass. From all indications however, it was always a matter of time before the digital asset attained a new all-time high (ATH). But, how far Bitcoin is really willing to climb still remains a mystery.
Can Bitcoin BTC price really reach the $200K mark as predicted by many?
So far, things are really looking bright and the present record is quite an impressive one, especially considering the fact that this time last year, the digital currency was hovering around $11,500 per coin.
Now despite reaching an all new record high, Bitcoin remains a highly speculative kind of investment. Now, crypto analysts are not backing down on their predictions either, as many still believe we need to brace up for the much higher highs that are incoming for the currency, possibly bringing it to 6 figures by the end of the year.
A crypto analyst simply identified as “Techdev” strongly believes we’re not in anyway even near a top. His recent statement comes about 26 days after predicting that it almost looks certain and preprogrammed that Bitcoin price will hit between $200-300K.
At another time, on June 14 precisely, billionaire Tim Draper also predicted that Bitcoin will reach $250,000 by the end of 2022 or early 2023.
Crypto Ceasar, Plan B and many more are also feeling confident that the coin is in its season, meaning that the present ATH is still far from its destination.
The price might not go past the $100K mark
In my opinion, $200K is too far a reach for BTC and expecting it to get to that mark before 2021 runs out will be almost impossible. Now recalling the very last time that the crypto saw a record high back in mid-April, it lost over half of its value at the time, nosediving to around $30,000 by mid-July. Also, the crypto undoubtedly has a long history of volatility, and because of that, rises such as this present one, never guarantees a long-term increase. That is, the price of Bitcoin is just as likely to keep increasing as it is also likely to crash again. The price swings will never stop happening and so investors should HODL, but not beyond the $100K.
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.