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The $100,000 Forecast of Bitcoin


After years of skepticism and dismissal as mere hype, the forecast of Bitcoin reaching $100,000 is now gaining credibility as a genuine possibility. The pioneer crypto jumped to another surge, surpassing $73,000 in March 2024.

As expected, the recent surge in price and unprecedented volatility has sparked optimism among Bitcoin investors worldwide. The question on everyone's mind now is whether the prediction of Bitcoin hitting six figures will materialize—and, if so, when can we expect it to happen?

Heading for Six Figures

It's crucial to remember that while examining past Bitcoin price movements can provide valuable insights, it's not a guarantee of future performance.

Yet, there's an intriguing observation to note. Bitcoin's price movements exhibit a rhythmic pattern akin to clockwork. When analyzing Bitcoin's annual returns, a recurring spike every four years becomes apparent.

As Forbes reported, Bitcoin's value surged from around $800 in January 2014 to over $42,000 by January 2024, representing a remarkable increase of more than 5,150%, with an annual return exceeding 135% over the past decade.


If this growth trajectory continues, projections suggest Bitcoin could reach $98,700 by January 2025, with a potential milestone of $100,000 by February.

Factors Driving Bitcoin's Soaring Prices

What are the driving forces behind Bitcoin's remarkable surge? The explanation spans a variety of factors, including macroeconomic trends, market sentiment, supply and demand dynamics, and two significant developments:

SEC's Approval of Bitcoin ETF

At last! After encountering numerous hurdles, the US Securities and Exchange Commission (SEC) has greenlit a spot bitcoin exchange-traded fund (ETF). 

The ETF green light marks a significant milestone, granting Bitcoin the regulated status akin to mutual funds, attracting interest from traditional investors who may doubt cryptos’ future. This move signals Bitcoin's integration into larger financial instruments and its journey toward mainstream recognition.

Bitcoin Halving Event

Bitcoin Halving marks a significant event eagerly awaited by Bitcoin enthusiasts. Every four years, rewards for Bitcoin miners are halved, effectively reducing the rate at which new Bitcoins are introduced into the market. The primary objective is to uphold the value of Bitcoin and regulate the quantity of Bitcoin in circulation.

As of March 2024, approximately 19.65 million Bitcoins were already in circulation, leaving only about 1.35 million that could be released through mining. This impending scarcity adds to the anticipation surrounding Bitcoin Halving among practitioners and investors alike.

The halving event makes Bitcoin scarcer, prompting its value to rise. Historically, Bitcoin has consistently witnessed price spikes following halving events.

Take the third halving in 2020, for instance. The Bitcoin 2020 Halving occurred on May 11, 2020. Before halving, Bitcoin's price plummeted to a low of US$3,858.00 on March 12, 2020. However, five days before the halving, it nearly tripled to US$10,000 on May 6, 2020.

Post-halving, Bitcoin's price soared. By late July 2020, it had surged beyond US$12,100. By the year's end, Bitcoin had skyrocketed to over US$30,000 per Bitcoin, hitting nearly US$42,000 by January 2021.

In this year's Bitcoin halving, we’ve observed that the price is already increasing before the halving. This pattern looks a bit different compared to the previous halving. Will Bitcoin continue to rise this year?

Is It Time to Dive into Bitcoin Investments?

Bitcoin currently holds the 9th position among the world's most valuable assets, with significant companies increasingly recognizing and embracing the crypto landscape. Moreover, crypto presents several appealing advantages. It offers liquidity, the potential for substantial returns, and opportunities for diversification.

Another compelling aspect is Bitcoin's limited supply, capped at 21 million coins, with no possibility of increase or decrease. Scarcity typically drives up demand while diminishing supply, leading to price appreciation.

However, it's crucial to stress the importance of conducting independent research and thoroughly understanding your chosen investment asset's background, risks, and profit potential.

Embark on your crypto journey with Luno


Join us in the world of digital currency! 

Luno offers a seamless experience to acquire your first Bitcoin and easily explore a variety of premium crypto. Require assistance? Our customer service team is here to help you in English and Indonesian.

Download the Luno app on the Google Play Store and App Store. Use LEB2024 promo code while registering on Luno to get free Bitcoin worth Rp100,000.

Luno is registered and supervised by the Commodity Futures Trading Regulatory Agency (Bappebti). Trading and investing in crypto assets is a high-risk activity. Read more on our Terms of Use here:

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