Benzinga - by Chris Katje, Benzinga Staff Writer.
Leading cryptocurrency Bitcoin (CRYPTO: BTC) soared to a new all-time high this week.
While the all-time high mark has now been passed for the first time since November 2021, investors and analysts could be turning their attention to new price milestones.
What Happened: Bitcoin hit a high of $69,170.63 on Tuesday according to data from CoinMarketCap, surpassing an old 52-week high of $68,789.63.
The new high comes as there has been a surge in interest in Bitcoin thanks to the approval of Bitcoin ETFs by the SEC earlier this year. The Bitcoin ETFs are seeing strong inflows and demand from investors looking for exposure to the cryptocurrency sector.
Before Bitcoin hit new all-time highs, Benzinga asked our followers on X, formerly known as Twitter, to see how long it would be before another milestone would be hit.
"When do you think Bitcoin will hit $100K?" Benzinga asked.
Here were the response options and the results:
- Sooner than we expect: 52.8%
- Give or take a few years: 22.2%
- Never: 14.9%
- Shrug, I don't know, undecided: 10.1%
Only 14.9% said that Bitcoin would never hit $100,000, which would be people who likely see Bitcoin not having future value or are not fans of the cryptocurrency sector.
One of the responses to the poll included one user saying the milestone could happen before the Bitcoin halving, which is currently estimated to happen on April 19, 2024. The Bitcoin halving happens approximately every four years and lowers the amount of Bitcoin that are rewarded from mining activities.
Another user predicted that the milestone wouldn't be reached until the year 2170. The response that we're bookmarking for the future is one user saying Bitcoin will officially pass the $100,000 milestone on June 4, 2028.
Related Link: Bitcoin To $140K In 2 Weeks? Here’s What Happens After It Hits New Highs
What's Next: The $100,000 milestone could be the next figure on the mind of investors and analysts after the all-time high was passed Tuesday.
Ark Invest CEO Cathie Wood has a base price target of $682,000 for Bitcoin for 2030 and a bull case of $1.48 million. The fund manager has been saying Bitcoin could hit $1 million for several years.
Mark Yusko, who is the CEO and founder of Morgan Creek Capital Management, previously told Benzinga that his price target for Bitcoin is $100,000 to $150,000 by the middle of 2024.
"Rich Dad, Poor Dad" author Robert Kiyosaki recently said that Bitcoin could hit $100,000 by June 2024.
Standard Chartered Head of FX Research Geoff Kendrick sees Bitcoin hitting $100,000 by the end of 2024 and thinks the leading cryptocurrency could hit $200,000 by the end of 2025.
Based on the results of the poll and comments from experts, the consensus seems to point to Bitcoin reaching $100,000 by the end of 2024.
BTC Price Action: Bitcoin traded at $63,349 at the time of publication versus a 52-week trading range of $19,628.25 to $69,170.63.
Read Next: How Much Tesla’s Bitcoin Is Worth: Will Elon Musk’s Company Sell Crypto As It Hits New All-Time Highs?
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