Bitcoin

Coronavirus Doesn’t Push the Bitcoin Price Higher, is $100,000 per BTC Still Possible?

TheMerkle Pantera Capital Bitcoin Price

There are many different potential price predictions for Bitcoin and other cryptocurrencies today. One pattern suggests the Bitcoin price could reach a value of $100,000 in the next few years, albeit the current coronavirus crisis makes that seem rather unlikely.

All Bitcoin holders want to see the BTC price go up significantly.

Coronavirus Doesn’t Move the Bitcoin Price

Setting a new all-time high, for starters, would be more than welcome.

To do so, the Bitcoin price has to surpass the $20,000 level in a convincing manner.

Some people expect that level to be only the beginning of what is to come, however.

One YouTube user claims there is a genuine chance that the Bitcoin price will hit $100,000 in the next 3 and a half years.

All of this is based on a mathematical pattern, which is as likely to occur as any other random price prediction. 

That being said, one has to wonder if this model is even viable in the first place.

It depicts a pattern that simply isn’t sustainable.

Nor does it take the current coronavirus crisis into consideration, or its long-term impact on the Bitcoin price.

Many people expected to see the BTC value rise due to the coronavirus.

So far, nothing spectacular has happened, making people very way of “mathematical models” leading to massive price jumps.

Image(s): Shutterstock.com

The post Coronavirus Doesn’t Push the Bitcoin Price Higher, is $100,000 per BTC Still Possible? appeared first on The Merkle News.


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