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Here’s Why Bitcoin Has Been Surging, and Why It Might Hit $100k Soon

By January 17, 2023No Comments

With the end of the Federal Reserve‘s tightening cycle upon us, every market is starting to see glimpses of the bulls, and none stronger than Bitcoin. 

Unless there’s a hawkish pushback from the Fed or a surge in commodity prices, most insiders believe the recent price surges will last.

The most widely used blockchain coin has seen a 25% surge over the last month and is now trading just above $21,000 – this is the first time that this has happened since November, when the botched launch of Sam BankmanFrieds trading system FTX caused an uproar across all digital coins. 

Bitcoin’s next halving in 2024 will almost certainly propel the coin to all time highs, and given that most investors know that even is certain, they will mostly likely pump up the price through this year.

SkyBridge capital founder Anthony Scaramucci even said in an interview with CNBC that he sees the price hitting $100,000 in the near future.

“You are taking on risk but you’re also believing in [bitcoin] adoption,” Scaramucci noted. “So if we get the adoption right, and I believe we will, this could easily be a fifty to one hundred thousand dollar asset over the next two to three years.”

What do you think the price will get to this year?