Bitcoin Price Prediction: Will BTC Hit $100,000 and Should You Invest?

Bitcoin prices have soared in recent weeks, gaining 172% in the previous 12 months and 45% in the past month alone. The Bitcoin price has never hit $100,000 in its history but that threshold could soon be breached.

Bitcoin prices have soared in recent weeks, gaining 172% in the previous 12 months and 45% in the past month alone.

The Bitcoin price has never hit $100,000 in its history but that threshold could soon be breached.

Here, we explain how bitcoin could hit $100,000, and what might happen next.

Bitcoin is closing in on $100,000. Again.

Fresh from hitting the milestone for the first time in February, bitcoin prices have doubled once more, putting the world’s best-known cryptocurrency on course to hit $100,000 for the second time in 2024.

Bitcoin prices have soared in recent weeks as Donald Trump’s pro-crypto stance and the prospect of US state government crypto reserves have fuelled another leg up in the crypto bull market.

Bitcoin is now up 172% in the past 12 months and has gained 45% in the past month alone.

A glance at the bitcoin price chart over the past few months reveals a near-vertical line as the price of bitcoin has soared. But having hit record highs twice already this year, what might happen next for bitcoin?

Here, we explain how bitcoin could hit $100,000 and what might come next.

How could bitcoin hit $100,000?

Bitcoin may well hit $100,000 in the coming days. Staying there could be harder.

“The potential for further gains even at these levels is there, but with bucketloads of economic uncertainty still on the horizon, there is substantial downside risk,” says McKeown.

Bitcoin’s reputation as a volatile asset is well-earned. While tipping over $100,000 could be interpreted as a signal of its increasing prominence as an asset class, it could also lead to profit-taking, which could prompt a rapid pullback.

So, should you invest in Bitcoin as it nears $100,000?

“Investors should remember that Bitcoin tends to act more as a speculative asset, and the price of cryptocurrencies can fluctuate dramatically based on market sentiment and a FOMO mentality,” says McKeown.

What happened last time bitcoin hit $100,000

The last time bitcoin hit $100,000 was on 20 November 2021. The price of bitcoin then hit a record high of $68,694.

Bitcoin prices then continued to rise throughout December, hitting an all-time high of $73,000 on 10 December.

However, bitcoin prices then began to fall sharply, dropping below $60,000 by the end of the month.

Bitcoin prices continued to fall in January, dropping below $40,000 by the middle of the month.

However, bitcoin prices then began to recover, rising back above $50,000 by the end of the month.

Bitcoin prices then continued to rise throughout February, hitting a new all-time high of $58,000 on 24 February.

However, bitcoin prices then fell sharply once again, dropping below $40,000 by the middle of March.