Bitcoin price above $10 000 and could go as high as $100 000

The Bitcoin price has increased almost 40% since the beginning of the year and is currently above $10 000, at the highest level since October 2019. Traders had been primed to expect a strong directional move, with Cointelegraph Markets analyst filbfilb identifying $9,550 as likely support.

With less than 60 days left to the next halving where the miners will get the reward for mining new Bitcoins slashed in half, the Bitcoin price could already be pricing in the halving effect.

Anthony Pompliano, co-founder & partner at Morgan Creek Digital, says the Bitcoin price could hit $100 000 at the end of 2021 because of limited supply and increasing demand.

Bitcoin just hit $10,000. I still think that Bitcoin will hit $100,000 by end of December 2021.

Fixed supply. Increasing demand. Time will tell.

Pompliano is not the only one predicting $100 000. Also the Stock-to-Flow’s creator, the analyst known as PlanB, says the BTC price after the halving in May 2020 would start moving up towards $100 000 by 2022.

There may also be a large number of Bitcoin addresses where the owners lost the keys and also the access to the funds. Every lost key to an address will limit the supply even more causing the price of the remaining Bitcoins increase over time.

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