{"id":128107,"date":"2020-12-07T19:13:35","date_gmt":"2020-12-07T16:13:35","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/bitcoin-price-can-hit-100000-if-btc-replicates-post-march-gains\/"},"modified":"2020-12-07T19:13:35","modified_gmt":"2020-12-07T16:13:35","slug":"bitcoin-price-can-hit-100000-if-btc-replicates-post-march-gains","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/bitcoin-price-can-hit-100000-if-btc-replicates-post-march-gains\/","title":{"rendered":"# Bitcoin price can hit $100,000 if BTC replicates post-March gains"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a27fbdae6122\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a27fbdae6122\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/bitcoin-price-can-hit-100000-if-btc-replicates-post-march-gains\/#Why_is_Bitcoin_growing_so_fast\" >Why is Bitcoin growing so fast?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/bitcoin-price-can-hit-100000-if-btc-replicates-post-march-gains\/#%E2%80%9CDigital_gold%E2%80%9D\" >&#8220;Digital gold&#8221;<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong># Bitcoin price can hit $100,000 if BTC replicates post-March gains <\/strong>&#8221;<\/p>\n<div class=\"post-content\" data-v-5a136f3a>The price of Bitcoin (BTC) has quadrupled in the past nine months, which means another similar rally would put $100,000 on the table in the foreseeable future.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2020-12\/4eb9e18d-6b35-4072-ba52-da3fa249be11.png\" alt=\"\" title=\"\"><figcaption style=\"text-align: center;\"><em>The 1-day chart of Bitcoin (Coinbase). Source: TradingView.com<\/em><\/figcaption><\/figure>\n<p>Dan Tapiero, co-founder of 10T Holdings, does not expect Bitcoin to hit $100,000 in the next nine months. But, he said that it shows how fast the asset is growing and its long-term potential. He <a rel=\"nofollow noopener noreferrer\" target=\"_blank\" href=\"https:\/\/twitter.com\/DTAPCAP\/status\/1335773136575488002\">wrote<\/a>:<\/p>\n<blockquote><p>\u201cRemarkable to think that just 9 months ago #bitcoin was at 4000. Almost a 500% rally to today. 500% rally from here puts us at 100k #btc. Don&#8217;t think it can h<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>en in 9 months but it would just be replicating what it&#8217;s done in past 9 months. Hard to grasp a mkt growing so fast.\u201d<\/p><\/blockquote>\n<h2><span class=\"ez-toc-section\" id=\"Why_is_Bitcoin_growing_so_fast\"><\/span>Why is Bitcoin growing so fast?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Bitcoin has evolved rapidly throughout 2020 due to three factors. First, the reduction in new supply after the halving in May has evidently reduced sell pressure. <\/p>\n<p>Second, the increase in institutional demand has caused the buy-side pressure for BTC to rise considerably. <\/p>\n<p>Third, long-time BTC holders have continued to express confidence, boosting market sentiment.<\/p>\n<p>For institutions, the sudden drop of Bitcoin to sub-$4,000 in early 2020 was also a compelling entry point. It was one of the worst-performing assets during the pandemic-induced crash in March, dropping by around 50% to as low as $3,596 on BitMEX. <\/p>\n<p>Since then, Bitcoin has shown resilience and staying power, eventually recovering back to its all-time high and reaching a new record high above $19,982 on Coinbase on Dec. 1.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\"><a rel=\"nofollow noopener noreferrer\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/bitcoin?src=hash&amp;ref_src=twsrc%5Etfw\">#bitcoin<\/a> 200WMA $7500 (monthly increase 5.5%), looks like late 2016 \/ early 2017. <a rel=\"nofollow noopener noreferrer\" target=\"_blank\" href=\"https:\/\/t.co\/Z83ALEBm4J\">pic.twitter.com\/Z83ALEBm4J<\/a><\/p>\n<p>\u2014 PlanB (@100trillionUSD) <a rel=\"nofollow noopener noreferrer\" target=\"_blank\" href=\"https:\/\/twitter.com\/100trillionUSD\/status\/1335908209312354304?ref_src=twsrc%5Etfw\">December 7, 2020<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>At the same time, investors such as MicroStrategy CEO Michael Saylor\u00a0believe\u00a0BTC is in a much stronger position now compared with the previous bull cycle. For one, today&#8217;s retail interest is only a fraction of what it was during peak euphoria in December 2017.<\/p>\n<p>Moreover, the increasing perception of Bitcoin as a digital store of value\u00a0and a must-have in every portfolio\u00a0has boosted its brand image among big investors alongside\u00a0record institutional inflows. All of this raises the possibility of a six-figure price tag as early as next year. Some analysts have even\u00a0predicted $200,000 and higher by December 2021. <\/p>\n<h2><span class=\"ez-toc-section\" id=\"%E2%80%9CDigital_gold%E2%80%9D\"><\/span>&#8220;Digital gold&#8221;<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Since it&#8217;s often dubbed as &#8220;digital gold,&#8221;\u00a0one of the strong bull cases for Bitcoin is closing its valuation gap with the precious metal. At $9 trillion, Bitcoin&#8217;s $300 billion market cap is just 3% of gold. BTC hitting $100,000 would reduce this gap to 23%.<\/p>\n<p>The value of Bitcoin has risen 100% against gold since September, with 1 BTC now buying over 10 ounces of gold. At the same time, analysts have noted record outflows from the gold market in recent months, some of which have ended up in\u00a0Bitcoin.\u00a0<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2020-12\/c2b8f066-d64b-4ffd-bd9b-7710e3c3b915.png\" alt=\"\" title=\"\"><figcaption style=\"text-align: center;\"><em>BTC, gold, S&amp;P 500 correlation. Source: Cointelegraph Markets, Digital Assets Data<\/em><\/figcaption><\/figure>\n<p>As Cointelegraph reported, the U.S. dollar may weaken further in 2021, something that has traditionally buoyed both Bitcoin and gold.\u00a0<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener noreferrer\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener noreferrer\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/bitcoin-price-can-hit-100-000-if-btc-replicates-post-march-gains\" target=\"_blank\" rel=\"noopener noreferrer\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# Bitcoin price can hit $100,000 if BTC replicates post-March gains &#8221; The price of Bitcoin (BTC) has quadrupled in the past nine months, which means another similar rally would put $100,000 on the table in the foreseeable future. The 1-day chart of Bitcoin (Coinbase). Source: TradingView.com Dan Tapiero, co-founder of 10T Holdings, does not&#8230;<\/p>\n","protected":false},"author":1,"featured_media":128108,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/s3.cointelegraph.com\/uploads\/2020-12\/ecc6a25d-b870-4820-9276-6b63fac6b816.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,74937,75720,74939,73785],"class_list":["post-128107","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin","tag-bitcoin-price","tag-investment","tag-market-analysis","tag-markets"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/128107","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=128107"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/128107\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/128108"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=128107"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=128107"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=128107"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}