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Investors Ponder Big Crypto Question in Viral Post – Will Bitcoin Really Reach $100,000?

September 29, 2020

A new, viral post on Reddit centers on an oft-debated question in the world of crypto – will Bitcoin ever hit $100,000?

This year alone, numerous BTC analysts and traders, as well as top-ranking crypto entrepreneurs, have hinted at the possibility or issued formal predictions that the leading cryptocurrency will reach six figures in value in the next couple of years.

Many Redditors agree with their confidence, calling Bitcoin’s rise to $100,000 as “inevitable” and saying it is “just a question of how much time it’ll take.”

Others still think BTC is at the mercy of whales and will remain too volatile for that kind of sustained growth.

Says one Redditor,

“I’ve been a BTC bull since the early days, but also recognize that ownership is concentrated in the hands of a minority early adopters who have good motivation to cash out at the right levels.

I think price will remain a cycle of pumps and dumps ranging between $6k and $30k for the next 10 years.”

Others expressed worries about dollar depreciation and pondered “how much $100,000 will buy” at whatever time Bitcoin reaches that value. Some Redditors predict it will either surpass $100,000 or go bust and plummet to zero, all dependent on adoption.

The list of crypto influencers who say BTC will hit six figures includes Pantera Capital founder Dan Morehead; Real Vision CEO and former Goldman Sachs manager Raoul Pal; Morgan Creek Digital co-founder Anthony Pompliano; Kraken chief executive Jesse Powell; veteran analyst Tone Vays; popular Youtuber Nicholas Merten; Su Zhu, chief executive of fund management firm Three Arrows Capital; and the pseudonymous strategists Dave the Wave and PlanB among others.

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.