Bitcoin’s 12 Month Trajectory To $100,000

I saw this on the BitcoinOfficial Facebook page: right now, Bitcoin is only $31 away from breaking through $18,000 again. That being said, I do not think $100,000 within 12 months is a stretch; truly we can see anything with Bitcoin

Time is our best friend: Bitcoin’s 12-month trajectory to $100K

Bitcoin’s price chart between 2017 and 2018 very much looked like a bubble. However, if we look at Bitcoin’s full trading history, there is a clear upward trend together with a growing number of asset-holding addresses as well as the network’s increasing computing power. The increasing mean hash rate of the Bitcoin network represents the increasing security level that one would want to see in a network where people’s wealth is stored.

On-chain analysis also shows active addresses are still nowhere near the January 2018 level, even if the Bitcoin price is approaching its historical all-time-high. I may be on the bullish side for Bitcoin’s 12-month price trajectory, but I truly believe that time will be our best friend.

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Master Asked on November 19, 2020 in Bitcoin.
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