Bitcoin sets a new record every year as in 2021, bitcoin touched $68000 but could not maintain the lead. In 2022, the analysts predict that Bitcoin will halt the milestone of $100000 this year.
Touching the milestone of $100k is very challenging. Still, if Bitcoin manages to do so, it will become unstoppable and acquire a hell of investment from retail investors and other mainstream investors. Let's find out whether the currency has the potential to surpass the $100k milestone or it is merely a prediction by the analysts and bitcoin supporters.
As per the reports, the technical aspects of bitcoin will help the currency touch a milestone of $90K. Undeniably the currency has had some technical flaws over the past few years. But now, the developers and nodes of this network are working to imply the latest technical updates. The taproot update has gathered the limelight and is expected to perform well on the platform. Half of Bitcoin's network entities are supporting the tap root update.
The taproot update is beneficial for the users and the nodes. Moreover, the update has unique features underlying the entire Bitcoin network very soon.
According to rich sources, central banks' policy and guidelines are the utmost potential factor governing the market value of bitcoin and other virtual coins in the year 2022. As per trenches, bitcoin will halt a milestone of $100,000, and Metaverse is enticing these influencers and financers the most.
Undeniably, Metaverse has a vast potential and can solve many problems related to the education system, department work, and much more. But the future of Metaverse is uncertain as the company has not released any technical aspects, and there are no Metaverse attributes in the public domain.
The utilization of NFTs in Metaverse games has already begun. For example, you might know that several multiverse games use NFT as guidelines or rules and regulations. These NFTs will also have similar use cases in the Metaverse as in these multiverse games. For example, in some games, you are allowed to buy land and other houses with the help of NFTs; in Metaverse, you will be able to do so using NFTs. To understand Metaverse completely you need to understand the concept and benefits of blockchain technology.
The cryptocurrency marketplace skyrocketed due to its speculative nature, and as per the experts, this zeal will sustain a similar growth rate. But the marketplace will confront a much more rich and complicated ecosystem.
As discussed above, there is much evidence demonstrating bitcoin touching a mark of $100k. But with Bitcoin becoming a mainstream digital asset, it is likely to face more and more challenges. The confrontation of challenges will be immense in this network.
The Bitcoin network is getting intense day by day and is influencing retail and institutional investors to acquire hold of Bitcoins. However, the utmost prominent concern of cryptocurrency investors holding bitcoin is whether bitcoin will crash or surge this year.
The scarcity Bitcoin has displayed over the past few years is immense, and it is inclining at a tremendous rate. In short, yes, Bitcoin can surpass the milestone of $100k this year, but it highly depends upon the market condition. Market condition changes with the cost of production, difficulty rate of Bitcoin mining, supply and demand, and government guidelines regarding these virtual coins, affecting many factors further.
Ether, the native currency of the Ethereum network, is also on a roll to cross the milestone of $10k but will ether succeed this year. The market value of Ethereum's native currency is $4000 at the instance, but it can touch $10k this year. The probability of ether reaching this milestone will incline when Ethereum goes upon proof of stakes. If Ethereum goes upon proof of stakes, the gas fees of this network will slump, and people will make use of Ethereum by an exceeding extent.
Due to lessened gas fees, the decentralized app's creators currently focus on other innovative chains and launch pads like Cardano, Solana, and binance innovative chain.
These are some facts regarding Bitcoin touching a milestone of $100k.