Bitcoin Setting New Records, but Will Its Bullish Run End Soon?

Bitcoin (BTC) might be headed to $100,000 very soon, as it blasts past $70k.

The token is up 3.35% for the day, at a price of $71,800 (BTC/USD). It fell from $72,000 early this morning, which was a new all-time high for the coin. However, Bitcoin is poised to push past that level once more and shoot much higher in the coming days and weeks.

The question now is when it will hit $100,000. If we look at Bitcoin’s progress recently, we can see that it took the token 46 days to move from $39k to $72k. In another month and a half, we could see history repeat itself and watch Bitcoin blast past $100,000.

Bitcoin is bullish now with trade volume up 71% and the halving event coming up. As that event approaches, investors understand that Bitcoin will be more difficult to mine at the same levels it is currently being mined at. This means that the value of Bitcoin will tend to increase, and that can help to lift the entire crypto market.

Watch not just Bitcoin but also Ethereum (ETH) and other major coins closer to Bitcoin’s halving event. You can be sure they will get a boost too. Adding value to Bitcoin by making it tougher to mine adds value to the entire market.

Bitcoin Price Prediction

The prediction for Bitcoin are a moving target at this point, with the coin being bullish for so long and setting new records. It seems like almost anything is possible. If Bitcoin really does surpass $100k in the next two months, then $150,000 by the end of the year is not out of the question.

As promising as the numbers look now, we may find out if Bitcoin has an upper limit soon. How high are investors willing to take it and when will they pull back and start getting scared of the coin not moving any higher? That could happen as early as this week, as the new all-time high could scare off traders who are not seeing the coin move like they expected it to. Bitcoin is cool slightly since it passed the $72,000 mark, but it could break out again very soon.