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Here’s Why Bitcoin Might Surge to $100,000

Sun, 04/30/2023 - 19:17
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Alex Dovbnya
Historical data indicates that four-month winning streaks in Bitcoin's value have often been followed by an average surge of 260% over the next year
Here’s Why Bitcoin Might Surge to $100,000
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Bitcoin, the flagship cryptocurrency, experienced a 1.5% increase on Sunday. Its price is currently hovering around $29,600 on the Bitstamp exchange. The bellwether coin is up more than 6% over the last seven days. 

Historical data suggests that four-month winning streaks in Bitcoin's value have often preceded an average surge of 260% over the following year, according to Bloomberg. If this pattern holds, the largest cryptocurrency could reach a record $105,000. 

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Notable streaks of monthly gains for Bitcoin include a six-month stretch from November 2012 to April 2013, during which its price increased from around $10 to over $259. Another significant period was the six-month streak from April 2017 to August 2017, when Bitcoin's price rose from approximately $230 to over $400. These past trends provide further context for the potential of a surge to the much-coveted $100,000 mark in the future.

As reported by U.Today, Standard Chartered, a leading global bank, has also forecasted that Bitcoin could surge to $100,000 by the end of 2024, heralding the arrival of a new crypto spring. 

Last year, Bitcoin suffered a 60% plunge following a series of high-profile industry failures. The most significant of these was the implosion of cryptocurrency exchange FTX.

With the potential for a surge to $100,000 on the horizon, investors and enthusiasts alike will be keeping a close eye on the cryptocurrency's performance in the coming months.

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at