{"id":611623,"date":"2024-06-06T00:00:02","date_gmt":"2024-06-06T00:00:02","guid":{"rendered":"https:\/\/wncen.com\/?p=611623"},"modified":"2024-06-11T06:58:59","modified_gmt":"2024-06-11T06:58:59","slug":"is-100k-bitcoin-inevitable-this-expert-say-yes-find-out-when","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/is-100k-bitcoin-inevitable-this-expert-say-yes-find-out-when\/","title":{"rendered":"Is $100K Bitcoin Inevitable? This Expert Say ‘Yes’\u2014Find Out When"},"content":{"rendered":"

As Bitcoin teeters close to its previous peak, discussions<\/a> about its next big price targets have reignited. Among the voices contributing to this conversation is Samson Mow, the CEO of Jan3 and a prominent Bitcoin advocate.<\/p>\n

Recently, on X (formerly Twitter), Mow expressed his belief in Bitcoin’s imminent rise to $100,000, a milestone he sees as a stepping stone toward an eventual value of $1 million. His forecast is based on events triggered by breaking past the all-time high of $73,750<\/a> in March.<\/p>\n

Related Reading: Buckle Up: Bitcoin\u2019s Ride to $74K Could Start Any Minute \u2013 Here\u2019s Why<\/a><\/div>\n

Critical Factors To Drive Bitcoin Price To $100k Target<\/h2>\n

Mow outlines a cause-and-effect scenario that could catapult Bitcoin to these new heights<\/a>.<\/p>\n

First, surpassing the previous all-time high would initiate a “recursive Bitcoin demand shock,” as increased demand and limited supply drive prices upward rapidly. According to Mow, this chain reaction could swiftly elevate Bitcoin to the $100,000 mark.<\/p>\n

\n

Once we surpass the previous #Bitcoin<\/a> ATH, recursive demand shock kicks in and it\u2019s up all the way to $0.1M.<\/p>\n

\u2014 Samson Mow (@Excellion) June 5, 2024<\/a><\/p><\/blockquote>\n

His confidence is mirrored in the recent market behavior<\/a>. Despite\u00a0a minor pullback from its 24-hour peak of $71,312, Bitcoin has maintained an upward trajectory, gaining 1.7% in the past 24 hours and nearly 5% over the past week.<\/p>\n

\"Bitcoin
BTC price is moving sideways on the 4-hour chart. Source: BTC\/USDT on TradingView.com<\/a><\/figcaption><\/figure>\n

Supporting Mow’s optimistic outlook, Chris Vermeulen, Chief Market Strategist of The Technical Traders.com, shares<\/a> a technical perspective that aligns with Mow\u2019s predictions.<\/p>\n

In a detailed analysis, Vermeulen pointed out a cup and handle formation on the chart, a bullish signal suggesting significant potential for an upward breakout. He uses Fibonacci extensions to project that Bitcoin could soon reach targets of $80,000 to $90,000, possibly climbing as high as $106,000.<\/p>\n

Market Dynamics And Long-Term Prospects<\/h2>\n

Both experts view the current market dynamics as a prelude to more substantial gains. Vermeulen’s analysis not only supports Mow\u2019s prediction but extends it by suggesting that Bitcoin could encounter resistance around $100,000, a psychological barrier likely to prompt significant market reactions.<\/p>\n

Beyond this point, a consolidation phase might occur, but the long-term trajectory remains overwhelmingly positive. The broader financial context also plays a critical role in these forecasts.<\/p>\n

Related Reading: Bitcoin \u2018Zombies\u2019 Awaken: Dormant Coins Move For First Time In Years, What\u2019s Going On?<\/a><\/div>\n

With growing concerns about the stability of traditional assets like the dollar and the stock market, investors are increasingly turning to alternatives like BTC and gold<\/a>. This shift indicates a deeper financial narrative where Bitcoin is not just seen as a speculative asset<\/a> but as a viable hedge against economic uncertainty.<\/p>\n

Featured image created with DALL-E, Chart from TradingView<\/p>\n","protected":false},"excerpt":{"rendered":"

As Bitcoin teeters close to its previous peak, discussions about its next big price targets have reignited. Among the voices contributing to this conversation is Samson Mow, the CEO of Jan3 and a prominent Bitcoin advocate. Recently, on X (formerly Twitter), Mow expressed his belief in Bitcoin’s imminent rise to $100,000, a milestone he sees as a stepping stone toward an eventual value of $1 million. His forecast is based on events triggered by breaking past the all-time high of $73,750 in March. Related Reading: Buckle Up: Bitcoin\u2019s Ride to $74K Could Start Any Minute \u2013 Here\u2019s Why Critical Factors To Drive Bitcoin Price To $100k Target Mow outlines a cause-and-effect scenario that could catapult Bitcoin to these new heights. First, surpassing the previous all-time high would initiate a “recursive Bitcoin demand shock,” as increased demand and limited supply drive prices upward rapidly. According to Mow, this chain reaction could swiftly elevate Bitcoin to the $100,000 mark. Once we surpass the previous #Bitcoin ATH, recursive demand shock kicks in and it\u2019s up all the way to $0.1M. \u2014 Samson Mow (@Excellion) June 5, 2024 His confidence is mirrored in the recent market behavior. Despite\u00a0a minor pullback from its 24-hour peak of $71,312, Bitcoin has maintained an upward trajectory, gaining 1.7% in the past 24 hours and nearly 5% over the past week. Supporting Mow’s optimistic outlook, Chris Vermeulen, Chief Market Strategist of The Technical Traders.com, shares a technical perspective that aligns with Mow\u2019s predictions. In a detailed analysis, Vermeulen pointed out a cup and handle formation on the chart, a bullish signal suggesting significant potential for an upward breakout. He uses Fibonacci extensions to project that Bitcoin could soon reach targets of $80,000 to $90,000, possibly climbing as high as $106,000. Market Dynamics And Long-Term Prospects Both experts view the current market dynamics as a prelude to more substantial gains. Vermeulen’s analysis not only supports Mow\u2019s prediction but extends it by suggesting that Bitcoin could encounter resistance around $100,000, a psychological barrier likely to prompt significant market reactions. Beyond this point, a consolidation phase might occur, but the long-term trajectory remains overwhelmingly positive. The broader financial context also plays a critical role in these forecasts. Related Reading: Bitcoin \u2018Zombies\u2019 Awaken: Dormant Coins Move For First Time In Years, What\u2019s Going On? With growing concerns about the stability of traditional assets like the dollar and the stock market, investors are increasingly turning to alternatives like BTC and gold. This shift indicates a deeper financial narrative where Bitcoin is not just seen as a speculative asset but as a viable hedge against economic uncertainty. Featured image created with DALL-E, Chart from TradingView<\/p>\n","protected":false},"author":580,"featured_media":611624,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,629,1119,78790,6664,10923],"class_list":["post-611623","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitcoin-market","tag-btc","tag-btcusdt","tag-crypto","tag-crypto-market"],"acf":[],"yoast_head":"\nIs $100K Bitcoin Inevitable? This Expert Say 'Yes'\u2014Find Out When<\/title>\n<meta name=\"description\" content=\"As Bitcoin teeters close to its previous peak, discussions about its next big price targets have reignited. 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A web3 content writer, journalist, and aspiring trader, Edyme is as versatile as they come. With a knack for words and a nose for trends, he has penned pieces for numerous industry player, including AMBCrypto, Blockchain.News, and Blockchain Reporter, among others. Edyme\u2019s foray into the crypto universe is nothing short of cinematic. His journey began not with a triumphant investment, but with a scam. Yes, a Ponzi scheme that used crypto as payment roped him in. Rather than retreating, he emerged wiser and more determined, channeling his experience into over three years of insightful market analysis. Before becoming the voice of reason in the crypto space, Edyme was the quintessential crypto degen. He aped into anything that promised a quick buck, anything ape-able, learning the ropes the hard way. These hands-on experience through major market events\u2014like the Terra Luna crash, the wave of bankruptcies in crypto firms, the notorious FTX collapse, and even CZ\u2019s arrest\u2014has honed his keen sense of market dynamics. When he isn\u2019t crafting engaging crypto content, you\u2019ll find Edyme backtesting charts, studying both forex and synthetic indices. His dedication to mastering the art of trading is as relentless as his pursuit of the next big story. Away from his screens, he can be found in the gym, airpods in, working out and listening to his favorite artist, NF. Or maybe he\u2019s catching some Z\u2019s or scrolling through Elon Musk\u2019s very own X platform\u2014(oops, another screen activity, my bad\u2026) Well, being an introvert, Edyme thrives in the digital realm, preferring online interaction over offline encounters\u2014(don\u2019t judge, that\u2019s just how he is built). His determination is quite unwavering to be honest, and he embodies the philosophy of continuous improvement, or \u201ckaizen,\u201d striving to be 1% better every day. His mantras, \u201cGod knows best\u201d and \u201cEverything is still on track,\u201d reflect his resilient outlook and how he lives his life. In a nutshell, Samuel Edyme was born efficient, driven by ambition, and perhaps a touch fierce. He\u2019s neither artistic nor unrealistic, and certainly not chauvinistic. Think of him as Bruce Willis in a train wreck\u2014unflappable. Edyme is like trading in your car for a jet\u2014bold. He\u2019s the guy who\u2019d ask his boss for a pay cut just to prove a point\u2014(uhhh\u2026). He is like watching your kid take his first steps. Imagine Bill Gates struggling with rent\u2014okay, maybe that\u2019s a stretch, but you get the idea, yeah. Unbelievable? Yes. Inconceivable? Perhaps. Edyme sees himself as a fairly reasonable guy, albeit a bit stubborn. Normal to you is not to him. He is not the one to take the easy road, and why would he? That\u2019s just not the way he roll. He has these favorite lyrics from NF\u2019s \u201cClouds\u201d that resonate deeply with him: \u201cWhat you think's probably unfeasible, I've done already a hundredfold.\u201d PS\u2014Edyme is HIM. HIM-buktu. Him-mulation. Him-Kardashian. Himon and Pumba. He even had his DNA tested, and guess what? He\u2019s 100% Him-alayan. Screw it, he ate the opp.","sameAs":["https:\/\/x.com\/0xEdyme"],"url":"https:\/\/wncen.com\/author\/samueledymeabayomi\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Is $100K Bitcoin Inevitable? 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