Bitcoin price: will it reach $100,000 next year? Bull or bear?

Bitcoin price: will it reach $100,000 next year? Bull or bear?

The Bitcoin price has already performed impressively this year. It has risen by around 80% since the beginning of the year. But everyone is still talking about the big bull run next year. Many are wondering how much the price can rise in the next year once it really picks up steam. A value of 100,000 dollars is often spoken of. Can Bitcoin really rise that high?

One reason why many are expecting a big bull run next year is the 4-year cycles in the crypto space. The so-called Bitcoin halving takes place every 4 years, during which the rewards for miners are halved. As a result, fewer new Bitcoins come into circulation and the price rises. With 90% of the maximum amount of 21 million Bitcoin already in circulation, it will still take some time until all of them are mined. The scarcity of supply therefore leads to an increase in the price.

Combined with other bullish news for the coming year, it is very likely that the big increase actually doesn't happen until next year. On the one hand because of the self-fulfilling prophecies on the stock market, and on the other hand because of upcoming events that will influence the digital currency market.

One factor that could have a major impact on the Bitcoin price next year is the planned Bitcoin ETFs. Approval of applications for such ETFs in the US could lead to a strong inflow of capital. This would make Bitcoin easier to access for the general public, as many people are already familiar with ETFs but don't want to deal with crypto exchanges and wallets. The world's largest asset manager, Blackrock, has already filed for a Bitcoin ETF.

Central banks' efforts around central bank digital money (CBDCs) could also have a bullish effect on the crypto market. CBDCs such as the digital euro and the digital dollar are currently being developed by banks. As a result, more and more people are becoming more familiar with digital currencies and the inhibition threshold for investing in cryptocurrencies is decreasing.

Despite the bullish news, one can never know whether an increase to $100,000 will actually occur next year. The market is still unstable and scandals can shake investor confidence. But the chances are higher than ever that the Bitcoin price could reach the $100,000 mark in the next few years. Curbing inflation and lowering key interest rates also play into the hands of crypto investors.

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Overall, there is no guarantee, but there is reason to hope that the next all-time high could be reached as early as next year. However, the cryptocurrency market is speculative, so investors should conduct their own due diligence.

About the author: Manuel Lippitz is an entrepreneur and investor with a focus on cryptocurrencies and NFTs. He writes regularly about the topic on his real estate blog.

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