Bitcoin on Track to Reach New Price Range, Threshold Seen at $100K

The Bitcoin price is seen to reach a higher price range over the coming couple of year, with the possibility of having a new brink at $100,000.

Adam Back, founder of Blockstream, said on Twitter:

These forecasts come in line with predictions made in December by Ross Ulbricht, founder of the Silk Road site.

Such Six-digit valuations are not an unusual brink for bitcoin price predictions. However, the even larger picture visualizes BTC as matching the growing nominal amount of fiat, with virtually no cap on its fiat price.

Furthermore, the expectation of higher valuations for BTC will likely helps drive investors to hold onto the coins.

In a report published earlier by Cryptolydian, several crypto traders said they see strong potential earnings for bitcoin, saying that current performance is a buying opportunity. These traders are also bullish that BTC will push for a new resistance, especially as it is way above the $7,500 threshold.

Some of these traders expect a new price range between $7,500 to $8,520 for the 35-70 days, while others see a new range forming where the previous resistance level acts as a new support. More bullish traders predict the new resistance level to be higher at $8,500 to $8,800.

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