Leading cryptocurrency Bitcoin Bitcoin/USD reached several new all-time highs in 2024.
The price increase stems from optimism related to the approval of Bitcoin ETFs and subsequent strong inflows into the funds.
Here’s a look at what could be next.
What happened: Bitcoin broke through the $70,000 level, hit several all-time highs in mid-March, and continues to trade around levels last seen in November 2021.
Benzinga recently polled his followers on X, formerly known as Twitter, to ask when the leading cryptocurrency might surge to new highs and reach the key six-figure level of $100,000.
“When do you think Bitcoin will reach $100,000?” Benzinga asked.
The responses and results were as follows:
This month (March): 12.2%
Next month (April): 22.3%
Next 3 months: 42.9%
Never: 32.6%
X only allows four possible answers, which makes it difficult to get a complete picture of the time between the next three months and never again.
In the survey, 34.5% said they saw Bitcoin reaching $100,000 in March or April, which could show growing optimism for further gains in the leading cryptocurrency. Over 77% of respondents said they believe Bitcoin will reach $100,000 in the next three months.
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Because it is important: Benzinga recently conducted a similar survey about Bitcoin hitting $100,000, with 52.8% of respondents voting ahead of schedule and 22.2% saying more or less in a few years.
The most recent survey, conducted after several all-time highs were broken, suggested that many saw Bitcoin reaching $100,000 even faster than initially expected, with a real possibility of the event occurring in 2024.
Many analysts and cryptocurrency experts believe that the next target is $100,000 and that the price could be reachable by the end of 2024.
Time will tell if the pundits and Benzinga X followers were right.
Be sure to follow along On petrol AND Benzinga’s Crypto Account on X.
BTC Price Action: At the time of writing, Bitcoin is trading at $67,228.53, compared to a 52-week trading range of $24,797.17 to $73,750.07.
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