It’s been a rocky start to the year for Bitcoin, but experts still say it will hit $100,000 — and that it’s more a matter of when, not if.
Russia’s invasion of Ukraine initially sent Bitcoin’s price tumbling to below $35,000 last week, though it has risen since then and got back above $40,000 Monday. Before that, Bitcoin topped $45,000 on Feb. 10 for the first time since early January, when its drop below $34,000 took it to its lowest price since July.
Amid the ups and downs, its current price is a long way off from the latest all-time high it hit in November, when it went over $68,000. Even with the recent decline in price, Bitcoin is still more than twice as valuable as it was just a couple years ago. For Bitcoin, these kinds of ups and downs are nothing new.
Despite the volatility and recent slumping price, many experts still say Bitcoin is on its way to passing the $100,000 mark, though with varying opinions on exactly when that will happen. And a recent study by Deutsche Bank found that about a quarter of Bitcoin investors believe Bitcoin prices will be over $110,000 in five years.