PlanB: Bitcoin Towards $100,000 With Optimism for the Next Halving

As the next Bitcoin halving approaches, the investment community is abuzz with speculation about the future of this pioneering asset. Have we already seen the peak of Bitcoin or are there still more price climbs on the horizon? This question resonates with cryptocurrency market newcomers and veterans alike.

Recently, Bitcoin showed signs of recovery, trading above the $71,000 mark after a period of consolidation. This upward movement has reignited investor confidence, fueling debates about BTC’s untapped potential. The community is not only attentive but also optimistic about the future trajectory of cryptocurrency. At the time of publication, the price of BTC was quoted at US$69,075.07 with a drop of 1% in the last 24 hours.

A survey conducted by PlanB on 5.1% think it will happen in 2026 or later. Notably, only 4.9% of respondents express doubts about Bitcoin’s ability to reach this value.

Bitcoin $100k in

— PlanB (@100trillionUSD) March 25, 2024

This optimistic sentiment is supported by several promising factors. For example, the recently positive Coinbase Premium Index signals renewed interest from institutional and retail investors in the United States. Additionally, the market is witnessing a surge in inflows into the Spot Bitcoin ETF as new entities move in to offer similar products.

Hashdex, an asset management company, is entering the spot Bitcoin ETF market in the US, transforming its futures ETF to focus primarily on spot Bitcoin. The renamed Hashdex Bitcoin ETF, in turn, will allocate the majority of its assets to spot Bitcoin, with a smaller portion allocated to Bitcoin futures contracts.

The outlook for Bitcoin has also received an endorsement from Robert Kiyosaki, author of the best-selling “Rich Dad, Poor Dad,” who recently touted Bitcoin as the superior investment choice, criticizing the fundamental flaws of the US dollar.

Disclaimer:

The views and opinions expressed by the author, or anyone mentioned in this article, are for informational purposes only and do not constitute financial, investment or other advice. Investing in or trading cryptocurrencies carries a risk of financial loss.