- Bitcoin‘s rapid price appreciation has shocked many.
- The milestone $100K price target is within touching distance.
- Michael Saylor plans a party to celebrate the milestone event.
Bitcoin has surged nearly 40% since the “Trump Pump” took hold of the crypto market, propelling the leading cryptocurrency to a new all-time high of $93,000 on Wednesday. The rapid rise has surprised many, though Bitcoiners would argue that the $100K mark was always in play, given the ongoing global debasement of fiat currency.
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With Bitcoin now just a hair’s breadth from $100K, MicroStrategy chair Michael Saylor has revealed plans to celebrate this milestone moment.
Bitcoin to $100,000
A series of massive green candles following the US election result has brought Bitcoin within striking distance of $100,000, prompting Saylor to reveal he’s planning a party to celebrate the milestone event.
BTC reached a new all-time high of $93,500 on Wednesday, just 6.5% from the coveted $100K mark, which, given Bitcoin’s notorious volatility, is an easily achievable feat.
Saylor’s announcement sparked a flurry of replies from influential community figures asking for an invite, highlighting the growing confidence that Bitcoin will reach the $100K milestone.
Polymarket odds also reflect this optimism, with the probability of BTC hitting the milestone in 2024 jumping from 17% on November 5 to 68% by November 14. However, despite Bitcoin hovering near the milestone, a sizable portion of bettors remain unconvinced.
The Sky’s the Limit
The $74,000 level had previously served as resistance on March 14 and October 29, but the Trump-driven rally broke through decisively, closing November 6 at $75,600. With no historical resistance to limit its upward movement, Bitcoin is in price discovery mode.
Bitcoin daily chart per Trading View
With bullish tailwinds driving momentum, especially Trump’s pledge to transform the US into the global crypto capital , Bitcoin’s potential seems unstoppable at this stage of the cycle.
Samson Mow, founder of Jan3, and Arthur Hayes, CFO of Maelstrom, have issued among the boldest price predictions, each setting a $1 million price target for Bitcoin.
On the Flipside
- MicroStrategy now holds 279,420 BTC , valued at $25.5 billion.
- Bitcoin dominance is trending higher, reaching a 189-week high of 61.13% on Thursday.
Why This Matters
Bitcoin reaching the $100,000 milestone would underscore its growing dominance and pivotal role in reshaping global finance.
Samson Mow renews his call for an incoming BTC God candle.
Bitcoin Nears God Candle: Mow Predicts Omega Soon
Max Keiser predicts Bitcoin at $800,000.
Bitcoin at $800K “Mathematically Guaranteed,” Says Keiser
