Here comes the USD100k Bitcoin

Here comes the USD100k Bitcoin

There have been a lot of articles written about the price boom of Bitcoin and when it will reach USD100k. There have been just as many written about it being dead by media too over the years and let's be honest each article written has never eventuated to what was being alleged.

Although in 2021 we did get to see a glimpse of Bitcoin almost hitting 100k and so many out there thought that it would actually reach USD100k and it was probably the best opportunity of it ever reaching that amount.

If you are an Australian, than you would have seen those 100K figures and even though it was in AUD it did still look pretty good. The Terra (Luna) Network collpased and took the whole thing crashing down followed by the FTX saga and the entirety of the communities confidence faded away. Many newbie investors turned their back ok the worlds number 1 Digital asset.

But recently there has been some market changes that have been occurring in this most recent bull that could potentially lead us to the new run to USD100k for the worlds favorite Digital currency, Bitcoin.

Mainstreamisation of Bitcoin

While we were sleeping mainstream investors have been growing their wallets on Bitcoin with Black Rock zoning in on offerings Bitcoin. Their previous view of uncertainty has grown into one of market security and their institutional investors want in on the digital currency action.

The uToday article suggests that after the FTX collapse a lot more institutional investors dove into Bitcoin as they perceived it as a discounted price offering.

Further speculation is arising suggesting that we are entering a multi year bull run on the digital asset and in an interview with Bloomberg we're apparently seeing the commencement of a new era of Bitcoin.

This is quite an interesting position because despite the heavy market swings we are seeing more and more digital currency bridging with traditional financial services or complete replacement in some instances where digital assets can be utilised and accepted as payment. This is a long way away from our initial thoughts back in 2017.

Bitcoin's .COM moment

Much like the launch of the internet money was flying anywhere and everywhere at the time and eventually it all came crashing down and only a few tech giants remained which we now use each day. Your Google, Amazon, eBay, MicroSoft, Apple etc.

It is somewhat similar to what we are seeing now with all the legal cases I have been reporting on over the past few weeks and while they may cause uncertainty now, they are leading to certainty.

What does that mean?

Up until this point everyone has been to cautious about how Crypto should be classified and what it actually is so SEC and Investors have been to fearful of getting involved and just hovered around the outside.

Occasionally the SEC moves in to pick up some low laying fruit but overall there hasn't been much motion on any front. But with the recent court actions going on there will be definitive laws written which set boundaries and understanding.

The recent clean up of Binance is no more than a battle to hold exchanges especially with investment firms like Black Rock mentioned above getting in on the action. The sector is going through some overdue spring cleaning and establishing it's own position in the financial world.

Big Bucks coming!

Recently published in Forbes we learned of a survey conducted by Laser Digital identified that 96% of respondents were keen on investing in the crypto currency market overall.

The the investors quizzed on their keen eye for Crypto accounts for roughly USD5 Trillion of investment funds, while we don't expect the entire 5 Trillion to go on Bitcoin. We can anticipate that a few USD Billion are coming it's way.

We know that institutional investors are keen on Bitcoin because after suffering in the markets and an alt coin sell off occurring we witnessed some pretty big price growth when Black Rock announced and opened it's Bitcoin ETF.

This saw significant funds injected into Bitcoin with many selling off alt coins to pick up Bitcoin awaiting the anticipated buy up of Bitcoin.

Markets have since started returning with ADA, Ethereum, Atom and many more tokens shooting back up to their previous prices.

But with institutional investors on the horizon, we can probably expect calls on 100k Bitcoin coming true sooner than later.

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