The world’s largest cryptocurrency, Bitcoin (BTC), went from being widely condemned to playing a prominent role in the US elections this year. The king coin has finally managed to move beyond $80,000. However, it should be noted that the asset was trading at a dainty price of $0.50 about 14 years ago. Can BTC move forward and reach $100,000 this month?
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Bitcoin Records New All-Time High
Bitcoin has been on an uptrend over the past couple of weeks. The asset has managed to record a new high almost every single day. Earlier today, BTC surged to an all-time high of $82,371.96. Currently, the king coin is 0.21% below its peak. At press time, Bitcoin is trading at $82,107.83 following a 2.73% rise over the past 24 hours.
It should be noted that Bitcoin has increased by an astounding 16,379,700% in the previous 14 years. This demonstrates the remarkable development and evolution of virtual money throughout time.
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November Price Prediction
According to data from CoinCodex, Bitcoin certainly has the potential to witness growth in the coming days. The king coin is expected to trade at an average price of $95,795 throughout the month of November. In addition, the firm revealed that BTC will rise to a maximum price of $102,843. The asset will clearly surge beyond the $100,000 level, bringing great gains to its holders.
Amidst this, investor Alistair Milne echoed this prediction. Milne expects the king coin to move beyond $100,000. The analyst cautions that there may be a 20–25% correction before the market reaches this level and that sellers at $95,000 and above could take advantage of the anticipated decline, which might cause short-term price swings. Milne added,
“Sellers @ $95k+ will laugh at the HODL’ers We will then teleport straight through $100k, causing generational FOMO … and then there’s the 25-30% chance (according to prediction markets) that Trump does indeed create a National Strategic Bitcoin Reserve and the US starts buying“
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