Will BITCOIN REALLY HIT the $10,000 Benchmark?

Will BITCOIN REALLY HIT the $10,000 Benchmark?

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Despite a rocky start to the year, many believe Bitcoin will eventually hit $100,000. Bitcoin's price topped $30,450 on Tuesday (May 17,) an increase of more than 2.5% in 24 hours. Last week, the leading cryptocurrency plummeted below $30,000 as both traditional and crypto markets fell. Investors remain concerned about increasing inflation, geopolitical threats, and the possibility of Fed tightening. The cryptocurrency market has recently replicated the stock market, increasing its reliance on global economic variables. Analysts warn that there is no end in sight to the war, inflation, and shifting monetary policy in the United States.
Furthermore, some experts believe TerraUSD (UST), one of the largest stablecoins, is to blame for last week's Bitcoin slump. Stablecoins, which are designed to stabilize the crypto markets by holding close to $1, plummeted to 29 cents last week as investors panicked and abandoned their coins.
"Stablecoin insecurity and a loss of faith in cryptos have now been followed by a resurgence," said Oanda Senior Market Analyst Edward Moya. “It was a critical entrance point for many institutional investors, but it crashed due to the recent issue with stablecoins. However, the market sell-off appears to be coming to an end."
Bitcoin has just momentarily crossed $45,000 in the last four months, and it has not surpassed $50,000 since December 25, 2021. However, Bitcoin has remained above its 6-month low of $34,000. Despite the ups and downs, Bitcoin's current price is still significantly below its all-time high of about $68,000 set in November. Despite the recent price decline, Bitcoin is still more than twice as valuable as it was two years ago. Bitcoin's ups and downs are nothing new.
Despite the recent price decline, many analysts believe Bitcoin is on its way to $100,000; however, the precise timing is unknown. According to a recent Deutsche Bank study, one-quarter of Bitcoin investors believe the price would reach $110,000 in five years. Volatility is nothing new, and it is one of the reasons why experts advise new cryptocurrency investors to be extremely cautious. Bitcoin's value, like that of all other cryptocurrencies, has gradually climbed over time. Bitcoin investors are naturally curious about how far the currency may rise. Unlike other established asset classes, the price of Bitcoin is extremely volatile.

🕒 Timestamps 🕒
00:00 Introduction
02:51 Bitcoin Price Predictions
02:30 What Influences Bitcoin’s Price?
04:11 What Investors Need to Know About Bitcoin Price Projections?
09:08 Final Thought

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