Bitcoin Surging Again; How Soon to $100K?
Bitcoin is likely to achieve a level of $100,000 as soon as this week, if its current bullish trend continues.
Quick overview
- Bitcoin (BTC) rose 3.35% to $97,049, with expectations to reach $100K soon.
- The cryptocurrency has gained about 14% since the announcement of a pause on tariffs by Trump.
- MicroStrategy is actively buying Bitcoin, indicating strong investor interest at this time.
- Analysts predict significant long-term growth for Bitcoin, with some forecasting it could reach $1 million in the coming years.
Live BTC/USD Chart
Bitcoin (BTC) climbed 3.35% on Thursday and is continuing to move higher thanks to a break from tariffs. Now up to $97,049 (BTC/USD), Bitcoin will likely hit $100K soon.
Bitcoin has shot up since Liberation Day when Trump announced new tariffs that caused a catastrophic slide for the cryptocurrency market and the stock market. When Trump put a pause on tariffs shortly afterwards, Bitcoin began to recover. It has gained about 14% since Liberation Day, climbing back to a level we have not seen since early February of this year.
BTC/USDBitcoin recently stagnated from the 28th to the 29th of April. Then on May 30th, as quarterly earnings reports poured in and economic reports were released. Bitcoin started to climb quickly. It has been climbing since late in the day Wednesday and looks like it will hit $100K in short order.
Should Investors Buy in?
This appears to be a great time to get on board with Bitcoin, and MicroStrategy certainly agrees, as the company has been buying up bitcoin in large quantities recently. Once the coin gets above $100K, it might not be such a strong investment, and it may be subject to market forces pushing it back down. That level is very important for investors, psychologically speaking, if nothing else. Once Bitcoin hits $100K, many investors will cash out and take their gains. The whales are likely to stay with Bitcoin for the long run.
With some analysts expecting Bitcoin to skyrocket over the next few years, long-term investors are anticipating big wins for their investments in the future. One analyst even predicted that Bitcoin will hit $1 million in the next couple of years.
At this time, Bitcoin looks very promising. It pulled out of a relatively flat trend to shoot upward, and this could definitely be the beginning of a much longer bull run. With tariffs paused and economic factors looking reasonably favorable at the moment, Bitcoin could go incredibly high. Bitcoin will only need to gain another 3.04% to hit $100K at this time- easily possible by early Friday.
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