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Can Bitcoin reach $109,000?
Yes, it is possible, but under the condition of several factors:
1. Bull Market
• Historically, Bitcoin moves in cycles approximately every 4 years (related to Halving).
• After each Halving, Bitcoin reaches new historical peaks.
• The last Halving was in April 2024, and therefore many analysts expect Bitcoin to reach new peaks between 2024 and 2025.
2. Institutional Involvement
• Major financial institutions like BlackRock and Fidelity have started entering the market through ETF funds.
• This adds credibility and additional demand, driving the price up.
3. Supply Reduction
• The number of available Bitcoins for trading decreases over time, especially after each Halving, leading to a price increase with rising demand.
4. Technical Factors
• Some technical analyses predict the price will reach between $90,000 – $120,000 during this cycle.
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Factors that may prevent reaching $109,000:
• A sudden global economic collapse.
• Strict regulatory decisions from governments.
• Security breaches or technical issues in the network.
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Note