Since its inception in 2009, Bitcoin(BTC) has captured the attention of tech enthusiasts and investors alike. The cryptocurrency has experienced remarkable growth, soaring from less than $500 in 2013 to over $60,000 in 2021. However, it faced a significant downturn thereafter, dropping below $17,000 in 2022. Now, with Bitcoin price at $59,000 today, many wished they would have invested earlier Yet, with the impending Bitcoin halving less than 60 days away, early investors are cashing in on profits, leaving some, like Trevor Noah, regretting not buying BTC sooner. However, there’s still hope on the horizon, with industry experts and analysts forecasting bitcoin to reach $100,000 by 2024. If this prediction holds true, it suggests that there may still be opportunities for investment in bitcoin. So, you might be wondering: what could my portfolio look like if Bitcoin(BTC) price hits $100k?

Bitcoin(BTC) Price Market Performance

Bitcoin (BTC) Market Performance Chart

As of February 28, 2024, Bitcoin price is at $59,020, marking a 4.04% increase in the last 24 hours. Its trading volume stands at $$45.45 billion, slightly down by 7.11% within the same period. Bitcoin, the second-largest cryptocurrency, has seen a 4.74% price hike over 24 hours, maintaining its position with a market capitalization of $1.16 trillion, according to CoinMarketCap. The king of cryptocurrencies has a circulating supply of 19.64 million BTC.

While Bitcoin reached its all-time high at $68,789.63 on November 10, 2021, it has experienced a 16.55% decline compared to its current price. Recent trends, however, show promise as BTC has surged by 15% over the last 7 days and a remarkable 153% over the past year.

Bitcoin’s surge past $50,000 is attributed to several key reasons. The approval of Spot Bitcoin ETFs by the SEC has boosted investor confidence and sentiment. Anticipation surrounding Ether ETF approval adds to the optimism. Additionally, the upcoming Bitcoin Halving in April is anticipated to reduce the rate of Bitcoin’s supply, historically leading to price rallies. Speculation over potential rate cuts by the Federal Reserve also fuels market sentiment. 

Reports of substantial investments in digital assets, particularly Bitcoin, along with positive technical indicators like increased Bitcoin Futures Open Interest and rising Coinbase Premium Gap, contribute to the bullish momentum. However, caution is advised as the Bitcoin Fear and Greed Index signals extreme greed, and the high Bitcoin relative strength index (RSI) indicates overbought conditions.

What Will Be My Portfolio if Bitcoin (BTC) Touches $100,000?

Suppose you would like to invest  $500 into the cryptocurrency market, and you get the attention of Bitcoin priced at $59,020 per coin. Now, imagine a situation where the value of Bitcoin suddenly rises to $100,000. It’s time to explore the potential profit and Return on Investment (ROI) for your investment.

With an initial investment of $500 at the current price, you’d secure approximately 0.0085 BTC. Should Bitcoin indeed reach $100,000, your investment would soar to $850, marking a profit of $350 and an impressive Return on Investment (ROI) of 70%.

Now, what if you decide to amplify your investment? Doubling your stake to $1000, you’d acquire about 0.017 BTC. If Bitcoin reaches $100,000, your investment would balloon to $1,700, delivering a profit of $700 with the same robust ROI of 70%.

For those willing to commit $5000, the potential gains become even more enticing. With this investment, you’d secure around 0.085 BTC. Should Bitcoin achieve the coveted $100,000 mark, your investment would flourish to $8,500, translating to a profit of $3,500 and maintaining a consistent ROI of 70%.

Whether you start with $500, $1000, or even $5000, Bitcoin’s potential for profit remains compelling. So, as you consider your investment decisions, remember that cryptocurrency investments carry risks, and prices can be highly volatile. Therefore, conducting thorough research, staying informed, and seeking professional advice are essential steps before making any investment decisions.

Investment Amount
Bitcoin Bought (at $59,020 per BTC)
Value at $100,000 per BTC
Profit
ROI
$500
0.0085 BTC
$850
$350
70%
$1000
0.017 BTC
$1,700
$700
70%
$5000
0.085 BTC
$8,500
$3,500
70%

Bitcoin(BTC) Price Forecast: Will Bitcoin Hit $100,000?

There are reasons why Bitcoin price would reach $100,000 soon. Bitcoin’s journey to $100,000 depends on two key factors: halving events and supply levels. Historically, halving events have nudged Bitcoin’s price closer to this milestone. However, the current scarcity of available bitcoins for purchase on exchanges, which is above 2.3 million adds an extra layer of significance. With demand outweighing supply, the upcoming halving could amplify this scarcity, potentially fueling a surge in Bitcoin’s value. As supply continues to tighten and demand remains strong, Bitcoin’s path to reaching $100,000 appears increasingly likely.

Furthermore, several bullish factors are emerging in the market, contributing to the ongoing rally towards new peaks. Notably, increased volume into spot Bitcoin ETFs indicates a growing presence of institutional investors in the crypto market. Meanwhile, with Bitcoin Halving only roughly 50 days away, investors are gearing up for another potential milestone in Bitcoin’s history, as this periodic event has historically driven Bitcoin prices to new all-time highs.

Standard Chartered Bank believes that Bitcoin will hit $100,000 by end of 2024. The bank said this will be driven by the approvals of numerous ETFs and the upcoming Bitcoin ‘halving’ in late April 2024. Echoing this is Robert Kiyosaki,  the famous author of Rich Dad Poor Dad author. He highlighted in his tweet that Bitcoin price might reach $100,000 in June 2024. 

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Filed under: News - @ January 1, 1970 12:00 am