Adoption, Scarcity to Fuel a Bitcoin Run to $100K: Report
A recent Bloomberg Intelligence report says that Bitcoin is in a consolidating bull market and well on its way to $100,000.Despite having fallen by nearly 30% since its November all-time high, Bitcoin is in a consolidating bull market and on its way to $100,000, according to a Bloomberg Intelligence report. The paper said it is unlikely that BTC’s bull run has come to a halt and predicts the fixed supply to sustain increasing prices.“The key question facing Bitcoin nearing the onset of 2022 is whether it’s peaking or simply a consolidating bull market,” the report said. “We believe it’s....
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Despite the recent downfall of the crypto market, the projection of Bitcoin (BTC) to cross the $100k threshold remains seen as a matter of time. Back in December, Bloomberg Intelligence indicated that the anticipated mark would happen eventually “due to the economic basics of increasing demand vs. decreasing supply,” and new data shed some light on that idea. Bitcoin Vs. Crude Oil In a new Bloomberg Intelligence report, data shows trends that could favor Bitcoin and Ethereum prices. The report noted that “Representing advancing technology, Bitcoin is gaining traction as a....
Despite the advancement of bitcoin at a number of major online retailers and in small businesses worldwide, certain major sectors still have yet to see any serious digital currency adoption. For example, earlier this year, one gas station in Greeley, Colorado, became what was widely considered to be the first to begin accepting bitcoin, and three months later few, it seems, have followed suit. This sluggish adoption could change, however, thanks to the efforts of bitcoin enthusiast and thermodynamics researcher Andy Schroder, who on 1st April revealed a prototype for a diesel fuel....
Throughout 2021, there’s been a number of people who have said they expect bitcoin to reach $100K by the end of this year. In more recent times, the six-digit bitcoin price forecasts continue as people are now saying a sudden move to $100K “doesn’t seem so far-fetched.”
The Probability of Bitcoin Hitting $100K — ‘Don’t Rule It Out’
Many bitcoin speculators and investors believe the road to $100K is not only probable, but guaranteed. Bitcoin.com News has covered numerous individuals, experts, analysts, and advisors this year....
It is common for people to reflect on every facet of their lives once they recognize the absolute, verifiable digital scarcity created by Bitcoin.
Bitcoin today blasted through local resistance and set an all-time high price record. The powerful move came after a short-lived drop downward yesterday, providing enough short-sellers to pose as fuel to push prices higher. What also contributed to the “rocket fuel” was a sudden increase of stablecoins, which whales are finally taking full advantage of […]