Is $100K Bitcoin a Pipe Dream or Inevitable?

Will bitcoin reach $100,000? The $100,000 bitcoin target has been talked about for years. I’ve been discussing the elusive price target as long as I’ve been writing on Medium. In late 2020, bitcoin had just reclaimed $20,000 for the first time since reaching those levels in late 2017. With new all time highs, bulls started clamoring for $100k.

So, I asked the question — Are You Prepared for a $100,000 Bitcoin? It wasn’t just about $100,000 though. New all time highs are a time to look at all potentially significant price targets. Large round numbers bring eyeballs to bitcoin and pressure to bitcoin holders. New all time highs test holders’ conviction and $100,000 remains that outstanding six-figure price target that many long bitcoiners believe is right around the corner.

What $100K Bitcoin Means

$100K bitcoin is important for a handful of straight forward reasons. The simplest reason is that $100,000 means six figures. Beyond that though, a more subjective reason is that bitcoin at $100,000 means more credibility for the cryptocurrency. The larger that bitcoin’s market capitalization gets, the more traditional finance and institutional investors take notice. That’s been the trend for all of bitcoin’s history. Most notably as of late, several spot bitcoin exchange-traded funds launched in the United…