The price of Bitcoin stabilized after the FTX crisis in early November 2022. But a trend reversal with rising prices is not yet in sight. There are many reasons why the price of Bitcoin could already rise sharply over the next 12 months. But when will we see Bitcoin at $100,000 and will that happen before the next Bitcoin Halving?
In this article, we deal with the question of when the price of Bitcoin can rise sharply again and when the $100,000 falls.
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How has the price of Bitcoin evolved in recent months?
Over the past few months, the Bitcoin price has mostly experienced losses. Especially in the first half of 2022, the cryptocurrency suffered heavy losses. From $48,000 at the end of 2021, the price of Bitcoin fell below $18,000 in mid-June. It was only in the following months that the Bitcoin price was able to stabilize again.
In the second half of 2022, we observed a sideways movement over a longer period. In August, the price of Bitcoin broke above the $24,000 mark again. After that, we again saw a slow return towards $20,000. With the crash of FTX, the price briefly fell below $16,000 and was recently able to stabilize below $17,000.
Why could the price of Bitcoin still increase more strongly in the coming months?
In our opinion, it is very likely that the Bitcoin price will experience a significant trend reversal in the coming months. There are several reasons for this:
- the story: Historically, the price of BTC rose again in the medium term during the second year of the bear market. We last saw it in 2019 when the price jumped from $3,500 to $10,500 in just a few months.
- Fed interest rate policy: The US central bank, the FED, has raised its key rates several times in recent months. However, these increases cannot continue, so as not to trigger a serious economic crisis. But this should again strengthen Bitcoin. Right now, the cryptocurrency is likely severely undervalued.
When will bitcoin hit $100,000?
The $100,000 mark is expected to be reached in 2021. Many forecasts assumed that the price of BTC could have risen well above the all-time high of $68,000. But in the end, interest rate hikes, among other things, meant that the price of Bitcoin could not rise as strongly. The interim crisis surrounding China’s Bitcoin mining ban has also boosted the market significantly.
But it also means that we might still have some climbs “in reserve” at the moment. The current price could be a massive undervaluation of the Bitcoin asset, even in a bear market. Therefore, a push above $100,000 is entirely possible before the start of the big bull market like 2021.
Can $100,000 be reached before the Bitcoin Halving?
The Bitcoin Halving is the most important event for the crypto market and denotes the halving of Bitcoin mining rewards. This equates to a massive bitcoin shortage and makes the cryptocurrency highly deflationary. After a halving, the bull market always starts again.
A rise in Bitcoin price above the $100,000 mark is possible ahead of the Bitcoin halving in this cycle. This halving will take place in the spring of 2024. But at the moment, the Bitcoin price could be so undervalued that we should see strong increases again, especially in 2023.
We’re not sure $100,000 will decrease until the next halving. But ahead of the halving, we expect to see at least a Bitcoin price of $50,000.
Is it worth investing in Bitcoin now?
An investment in Bitcoin might be worthwhile right now based on the numbers mentioned. However, there is still a possibility that the price could fall below $15,000 in the next few weeks. But after that, it is expected to rise more strongly sometime in 2023.
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