Bitcoin’s Journey to $100,000: Expert Predictions and Market Forces

Revving up to a potential six-digit milestone, Bitcoin (BTC) is poised to break records and make waves in the digital asset realm. As per Standard Chartered's recent musings, the crypto winter has thawed, and Bitcoin stands to benefit from its branded safe haven status, store of value, and remittance capabilities.

Adding fuel to the Bitcoin fire is the recent collapse of Silicon Valley Bank, which triggered concerns of a banking crisis, highlighting the advantages of a decentralized and trustless system. Bitcoin has also outshone its competitors, particularly stablecoins, as some lost their grip on the US dollar due to their exposure to the SVB fallout. Brace yourselves, Bitcoin believers, for a wild ride toward the $100,000 finish line by the end of 2024!

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Illustration: MilicaM

Reasons behind bullish predictions 

BTC has been on a triumphant journey this year, soaring above the $30,000 mark in April, marking its first ascent in ten months. This incredible feat is a partial rebound from the crypto sector’s staggering losses, which amounted to trillions of dollars in 2022, following central bank rate hikes and a spate of crypto company collapses. 

Throughout Bitcoin’s previous surges, soaring valuations were often foretold. Back in November 2020, a Citi analyst prophesied that BTC could hit a towering $318,000 by the end of 2022. However, it ended last year at a 65% loss, languishing at $16,500. 

A note released by Standard Chartered attributed BTC’s success to its status as a “branded safe haven, a perceived relative store of value and a means of remittance.” This enduring reputation has undoubtedly bolstered Bitcoin’s unrelenting rise to the top. 

The endorsement by the European Parliament for the inaugural set of regulations aimed at controlling the crypto market is set to provide a much-needed wind in the sails for BTC. According to JPMorgan, a technical modification to the Bitcoin blockchain scheduled for April 2024, referred to as its “halving”, has the potential to increase its value by making it more difficult to mine, generating a positive psychological effect.  

Furthermore, JPMorgan reports that cryptocurrency prices have already received a boost from crypto enthusiasts who interpret the recent banking crisis in the United States as a validation of the crypto ecosystem. With supporters of crypto advocating that stablecoins are “less vulnerable to panics,” JPMorgan anticipates that crypto will continue to be a major player in the financial world. 

Finally, BTCs rising potential has gained an unlikely champion in the renowned author of Rich Dad, Poor Dad, Robert Kiyosaki, who joins Standard Chartered in expressing an increasingly bullish outlook for the cryptocurrency, boldly forecasting that BTC will soar past the $100,000 mark. 

Digital gold 

The industry’s buoyant outlook on BTC owes much to its remarkable resilience during the recent banking chaos precipitated by the fall of Silicon Valley Bank and the demise of crypto-friendly lenders Silvergate Capital and Signature Bank. While traditional currencies faltered, BTC flourished, offering a glimmer of hope to those seeking an alternative to the unstable financial establishment. “The surge in value can be attributed to the growing unease people feel towards the banking system and its fragility,” remarked Oliver Linch, CEO of Bittrex Global, during an interview at the electrifying Paris Blockchain Week. 

Meanwhile, for a considerable stretch of time, the fervent proponents of BTC have championed it as the “digital gold” – a refuge from inflation and a source of investment amidst tumultuous times. Yet, in recent years, BTCs performance has been interdependent on stock market trends, especially those of the technology-driven Nasdaq.  

Nevertheless, there are telltale indications of an impending decoupling as BTC has outshined not only the Nasdaq but also other risk-bearing assets, including the traditionally favored gold, this year.  

Moreover, BTCs upward trajectory has been fueled by a newfound optimism that the ongoing banking crisis may curb the US Federal Reserve’s unwavering inclination towards interest rate hikes. Such a shift in monetary policies could bolster the prospects of crypto assets as viable investment avenues. 

Risks on the road 


The looming shadow of regulatory crackdowns poses the biggest threat to BTC and other cryptocurrencies. Alas, the powers-that-be are loath to relinquish their grip on monetary policy and taxation, leaving crypto enthusiasts with bated breath. The 2021 prohibitions in China and India only add fuel to the fire.  

Countries that snub digital currencies risk missing out on the opportunity to cultivate innovation and attract investment. Striking a balance between control and progress is no easy feat, yet the Biden administration’s decision to assign multiple governmental agencies to explore the world of digital assets is a step in the right direction.  


The technology behind Bitcoin’s network is truly remarkable. It relies on a proof-of-work system that demands the use of powerful computers to solve complex mathematical codes and add new blocks to the blockchain. However, this process is slow, taking nearly ten minutes to verify a typical transaction, and BTC can only handle seven transactions per second (TPS), which is not ideal. 

In contrast, Visa, the world’s largest payment network, can process an impressive 65,000 TPS, making it the preferred option for millions of people globally. If BTC wishes to compete in the realm of remittances and standard transactions, it must significantly enhance its throughput capacity. 


Bitcoin’s journey toward becoming the digital gold standard for value storage is an epic tale of volatility and potential. The uncharted territory of constant price fluctuations can keep even the most daring investors and institutions on the sidelines. But the true believers in Bitcoin’s transformative power know that its unique properties make it a superior asset to physical gold. The ultimate test of grit and perseverance is ignoring the noise of the news cycle and holding steady through the inevitable ups and downs. Only then can one ride the incredible runway of Bitcoin’s price appreciation to unimaginable heights. 

Where do we go from here? 

Ever since Balaji Srinivasan, a tech maven and investor who once led Coinbase, boldly placed a $2 million bet on Mar. 17 that BTC would surpass the $1 million mark within 90 days, the buzz surrounding where the digital coin’s price could head this year has been nothing short of wild. This audacious wager was a response to a Twitter user who had bet $1 million that the U.S. would not fall victim to hyperinflation.  

Srinivasan contended that, as hyperinflation devastates the value of the U.S. dollar, people and organizations will flock to BTC, turning it into digital gold and leading to its global redenomination.  


There seems to be a lot of speculation surrounding BTC, and for crypto enthusiasts, luckily it’s mostly bullish – from predictions that BTC will hit $100,000 to more serious bets that it will actually reach even $1 million in due time.  

While it is hard to predict these types of things, it is important to notice whether the “predictors” actually have a financial stake in making such bold predictions before buying into their rhetoric. Regardless BTC is here to stay, and it will have a bright future, and it would be financially prudent to own some. Whether it will be $100 or  $1 million in 2024, is anyone’s guess.   

Dino Kurbegović is a project coordinator and an investor and technology enthusiast with years of experience in managing complex projects. His journey into content writing began in 2014, covering finance, investing, crypto, technology and complex technical topics.


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