The Potential of Bitcoin Reaching $100,000
As a cryptocurrency enthusiast, you are likely curious about the possibility of Bitcoin reaching $100,000 by the end of 2024. Recent survey data sheds light on prevailing sentiment and factors contributing to this milestone.
Survey Insights
A recent survey by Real Research revealed:
- 68.44% of respondents believe Bitcoin will hit $100,000 in 2024
- 27.18% see a steady flow of Bitcoin ETFs as a key factor
- Over 66% of respondents are inclined to invest in Bitcoin for reaching this target
Bullish Sentiment and Technical Analysis
Despite the risks associated with volatile assets, many respondents expressed a strong inclination to invest in Bitcoin, buoyed by the potential $100,000 price point.
Technical analysis highlights:
- A symmetrical triangle pattern on Bitcoin’s chart
- A potential rally to $74,400 if BTC closes above the $69,330 resistance level
On-Chain Data and Transaction Value
On-chain data from IntoTheBlock reveals:
- A significant demand zone between $66,900 and $68,900
- Over 2 million addresses holding around 1.1 million BTC in this zone
- Bitcoin transaction value hit a yearly high of over $25 billion on May 28
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