Will Bitcoin Hit $100,000 Before Year-End? Experts Weigh In

The Bitcoin Rollercoaster

Just two weeks ago, Bitcoin was cruising high at $53,000, feeling pretty confident about breaking its former all-time records. Fast forward to today, and it’s had a fall that would make a seasoned rollercoaster enthusiast dizzy, currently sitting at around $45,800. Oops! Is it too late to apologize for the excitement?

Standard Chartered’s Optimistic Outlook

Despite the wild ride of price swings, the analysts at Standard Chartered are treating Bitcoin’s dip like a pesky mosquito—annoying but harmless. They’ve dubbed this drop a “false dip” and confidently predicted that BTC will hit a sparkling $100,000 by “late 2021 or early 2022.” Talk about a silver lining!

What Influences Bitcoin’s Value?

To dissect the reasoning behind projections of Bitcoin possibly hitting $100,000, Cointelegraph asked the industry’s finest. Ben Caselin from AAX highlighted the Tuesday sell-off as a classic “sell the news” scenario. “I expect $100K is still in play for Bitcoin this year,” he claimed, adding that ignoring on-chain data while focusing solely on the chart lines is like driving with your rear-view mirror covered. Spoiler alert: you might crash.

Voices of Caution

However, not everyone is on the bandwagon. Lennix Lai from OKEx warns that while Bitcoin’s future glimmers with potential, it may not necessarily end 2021 at $100,000. “I think we would see a short-term correction considering the looming taper from the U.S.,” he notes, sounding like a cautious parent watching a teen on a first date. “But if 1% of the world’s wealth flows into Bitcoin, then sure—$100,000 could happen faster than you can say ‘HODL.’”

The Crystal Ball: Looking Ahead

With the monetary effects of the 2020 halving being relatively mild compared to past years, there’s still hope left in the tank for Bitcoin to break that coveted $100,000 mark. Looking ahead to the next few days, as regulations tighten globally, it remains to be seen whether Bitcoin can pull its socks up and get back in the ring or if it will just settle for Apple’s “Warning: Low Battery” sign.