{"id":26648,"date":"2024-12-08T08:00:41","date_gmt":"2024-12-08T08:00:41","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=26648"},"modified":"2024-12-08T08:00:41","modified_gmt":"2024-12-08T08:00:41","slug":"bitcoin-nears-100000-market-expert-predicts-200k-surge-amid-retail-fomo-and-volatility","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=26648","title":{"rendered":"Bitcoin Nears $100,000: Market Expert Predicts $200K Surge Amid Retail FOMO And Volatility"},"content":{"rendered":"

The Bitcoin (BTC) price held just below $100,000 at the week\u2019s end, falling 7% to roughly $91,000 on Thursday. This milestone <\/a>has inspired speculation about Bitcoin\u2019s short, medium, and long-term behavior in the face of increased market volatility.\u00a0<\/p>\n

Expert Predicts Bitcoin Could Reach $200,000<\/h2>\n

According <\/a>to market expert VirtualBacon, while the $100,000 level is noteworthy, it does not represent the pinnacle of Bitcoin\u2019s potential. He refers to the current phase as the \u201cthrill stage,\u201d in which retail investors are motivated by fear of missing out (FOMO) and media hype.<\/p>\n

Although Bitcoin\u2019s march to $100,000 may not indicate an early entry point, VirtualBacon predicts it will eventually hit $200,000, citing past price cycles.<\/p>\n

However, the expert cautions that investors should be prepared for 20% to 30% corrections, but he remains confident about Bitcoin\u2019s long-term potential.\u00a0<\/p>\n

Regarding the present bull run\u2019s longevity, VirtualBacon alludes to previous cycles <\/a>that show major price increases often last 6 to 10 months. He observes that previous bull runs often peaked 6 to 10 months after important milestones, such as Bitcoin\u2019s halving events.<\/p>\n

VirtualBacon also drew comparisons between Bitcoin\u2019s latest breakthrough of the $100,000 milestone and its initial breach of the $10,000 level in 2017, which resulted in a quick doubling of the price within 20 days.<\/p>\n

If history repeats itself, the analyst believes that the Bitcoin price might skyrocket to $200,000. However, if the price consolidates <\/a>around $100,000, it could signal a sustained bull run, which would be beneficial to altcoins.\u00a0<\/p>\n

Ethereum: A \u2018No-Brainer Investment\u2019<\/h2>\n

While the euphoria surrounding Bitcoin\u2019s surge above $100,000 is apparent, VirtualBacon emphasizes that the real potential are in altcoins<\/a>. He believes that when Bitcoin consolidates, altcoins will certainly take center stage. Ethereum <\/a>(ETH), in particular, is outperforming Bitcoin, predicting an upcoming altcoin season.<\/p>\n

During past cycles, Ethereum outperformed Bitcoin by a factor of 2.5. If Bitcoin reaches $200,000, VirtualBacon predicts that Ethereum may grow to $15,000, indicating a fourfold increase.\u00a0<\/p>\n

Interestingly, VirtualBacon considers Ethereum a \u201cno-brainer investment\u201d at this time, citing its \u201csignificant undervaluation\u201d and ability to generate at least a 3x return, with realistic price targets r<\/a>anging from $10,000 to $12,000.\u00a0<\/p>\n

Finally, VirtualBacon advised monitoring Bitcoin\u2019s performance in relation to its 200-day exponential moving average. He expects the bull market to continue until late 2025, creating several possibilities for wise investments.<\/p>\n

At the time of writing, the largest cryptocurrency on the market, BTC, was trading at $99,670, up 3.2% on the week. Over longer time frames, Bitcoin still shows significant gains of over 31% and 129% on a monthly and year-to-date basis, respectively.<\/p>\n

Featured image from DALL-E, chart from TradingView.com\u00a0<\/p>","protected":false},"excerpt":{"rendered":"

The Bitcoin (BTC) price held just below $100,000 at the week\u2019s end, falling 7% to roughly $91,000 on Thursday. This milestone has inspired speculation about Bitcoin\u2019s short, medium, and long-term behavior in the face of increased market volatility.\u00a0 Expert Predicts Bitcoin Could Reach $200,000 According to market expert VirtualBacon, while the $100,000 level is noteworthy, […]<\/p>\n","protected":false},"author":0,"featured_media":26649,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-26648","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/26648"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=26648"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/26648\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/26649"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=26648"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=26648"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=26648"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}