Bitcoin Touching $67,000, Can it go up to $100k? – You Must Know This!

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Bitcoin touching $60,000, Can it go up to 100k? - You must know this!

 

Patrick Iturra Report, EIG Asset Manager

Bitcoin breaks its record highs now and then! Also, it might soon cross the six-figure mark ($100,000). If you check the history of the cryptocurrency, then you will notice that there is first there is a bullish phase where bitcoin value climbs up. After this, there is an 80-85% dip/wipe out from the bitcoin valuation. 

Bitcoin is known for its ups and downs, and recently, it has over the $60,000 mark. But this might be a future low for bitcoin, not the peak! 

$60,000 Is the next bear market bottom?

As per my calculations, bitcoin might become more aggressive in the future and cross the 100k valuation mark. This means that bitcoin has a lot of capital gains for its investors in the near future.

$60,000 is more likely to be a floor, not a ceiling.

Bitcoin touching $60,000, Can it go up to 100k? - You must know this!

What if… Bitcoin Crashes by 85% and still values over $60,000?

Bitcoin breaks its record highs now and then! Also, it might soon cross the six-figure mark ($100,000). If you check the history of the cryptocurrency, then you will notice that there is first there is a bullish phase where bitcoin value climbs up. After this, there is an 80-85% dip/wipe out from the bitcoin valuation. 

As per the currency value of Bitcoin, which is right above $60,000, then the bitcoin value must be around $300,000 to stay at 60,000 with an 85% value wash out! 

But, how can bitcoin achieve this heavy task to gain more than $240,000? 

Well, there are a lot of factual and logical reasons behind it! 

The potential reason why bitcoin will achieve six figures in the future: 

The Bitcoin ETF shows a positive future! 

One of the biggest news this week is that the Bitcoin ETF is on its way to being approved by the SEC. Therefore, the cryptocurrency might get its due attention from the authorities. Currently, it is the talk of the town among crypto investors because most of them are optimistic about bitcoin’s rise in the future. With the ETF approved by the SEC, the doors will open for all other investment cryptocurrencies once bitcoin investors increase worldwide. Then authorities will have to pay more attention to establishing regulatory law over bitcoin. 

The currency shows better trust.

In general, Bitcoin and even other cryptocurrencies have earned a lot of trust from investors along with big institutional investors such as PayPal, Visa, JP Morgan, etc. Initially, there were a lot of concerns among people, such as hacker attacks, high volatility, etc. These were the initial worries when the whole decentralization concept was newly introduced to the public. One more reason behind this was that all the investment products circled the fiat currencies. 

Now, the scenario has changed drastically with new crypto exchanges. Investors are now considering bitcoin as a legitimate investment like mutual funds, stocks, etc.

The Global trend

With more trust in the system and the past performance of bitcoin. The cryptocurrency can cross $100,000 in the next couple of months. Currently, the market capitalization of bitcoin is $1.15 trillion higher than the world’s top three largest banks [ J.P. Morgan, Bank of America, The Industrial & Commercial bank of China]. 

Also, one thing to note here is that there are a lot of bans implemented on bitcoin around the world. Even under such conditions, bitcoin has given tremendous returns to its investors. This depicts the potential and the global trend it follows, and it can deliver good returns for both the short term & long term. 

Is the time to invest in Bitcoin Gone? 

Well, as I have mentioned in the above section, currently, bitcoin is over $60,000. Now, this figure might be tough for many investors to invest in, but I would say that you invest in Bitcoin as a systematic investment plan (SIP). Following up on the history of bitcoin, it has a bull phase (prices increase) and then the bear phase (sudden dip in prices). When you use the SIP method, you balance out the high volatility, where you buy bitcoin in chunks. Also, the SIP strategy works well in the long term.

As a strategic investment advisor with experience of more than 24 years, I would say that the main thing here is to invest with discipline. Those who invest with discipline in the long term generate wealth over time. Investing is not a sprint; it is a marathon! Only those who invest with discipline are the winners. 

I look forward to answering any of your investment-related queries. You can share your questions with me here: Contact Patrick Iturra. 

 

Patrick Iturra, 

EIG Asset Manager, I monitor my investors’ property performance and maximize their real estate income. My job involves leading the construction, operations, and leasing teams of your real estate investment company to ensure optimal value for each asset.  FALLOW

 

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