Bitcoin Hits New High, Eyes $100k

This topic has 10 replies, 1 voice, and was last updated 4 weeks ago by BTC Ben.

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November 20, 2024 at 11:27 #194785 Reply
Christian Harris
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Bitcoin climbed by over 2% yesterday, reaching an unprecedented $94,105, as market participants weighed the escalating tensions between Ukraine and Russia.

The digital currency is gaining recognition as a potential hedge against geopolitical uncertainties, even as debates persist over its volatility and long-term viability as a store of value.

Will it hit $100k by the end of this year? What do you think?

Data: eToro, FactSet, Morningstar, S&P Capital IQ, ProRealTime, MarketScreener
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- November 20, 2024 at 11:56 #194787 Reply
  BTC Ben
  Yes!
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- November 20, 2024 at 11:56 #194788 Reply
  ToTheMoon834
  Personally I believe a correction is looming so I’m not convinced it will hit the 100k mark.
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  - November 21, 2024 at 09:06 #194835 Reply
    Trade2Day
    Even if it does get there it’s coming back down. It won’t stay there.
    
    I know the big boys are chucking money into it now but let’s not forget it lacks any intrinsic value. It is, and will remain, purely a speculative vehicle.
    
    For that reason, I won’t touch it. Don’t put money in Bitcoin unless you’re willing to see it go to zero, whether that’s in the near future or a long time from now.
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  - November 21, 2024 at 11:18 #194864 Reply
    Christian Harris
    Participant
    A valid point Trade2Day.
    
    Investing in Bitcoin (or any other cryptos) over the long term is undoubtedly high risk, but there are many short-term trading opportunities and you can make excellent returns if you get your timing right.
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  - November 22, 2024 at 09:41 #194986 Reply
    Trade2Day
    Ok yeah if you’re taking the short term view.
    
    I guess an equally interesting question is: how soon after hitting $100k will it start tumbling back down?
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  - November 21, 2024 at 09:06 #194833 Reply
    BTC Ben
    She’s still climbing! Up another 2.47% in the last 24h!
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  - November 22, 2024 at 09:41 #194985 Reply
    BTC Ben
    Up 6.33% in the last 24h! She’s so close I can taste it!
    Reply
- November 20, 2024 at 11:56 #194789 Reply
  Crypto Killer
  Oh it’s gonna happen. We have the momentum and the geopolitical climate and new Trump presidency will only add to the uncertainty over the next couple of months.
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- November 20, 2024 at 11:56 #194791 Reply
  Major Trader 35
  So I reckon it will get there but I don’t know if it’s going to happen by EOY or 2025.
  
  There is a sizeable options expiry of $11.8 billion on 27th of December and most are call options. If bitcoin hits the 100k point before they expire many could be exercised and we could see large volumes of Bitcoin being sold.
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- November 21, 2024 at 09:06 #194834 Reply
  Dicky
  These guys have it hitting 100k by the 22nd of Nov – https://changelly.com/blog/bitcoin-price-prediction/
  
  You never know with crypto but it feels inevitable at this point and what a milestone it would be.
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