In a few days, we could surpass the $100,000 mark," shares an early bitcoin enthusiast with BFM Crypto. Having witnessed bitcoin rise through various thresholds from $10 to $10,000, he eagerly awaits the $100,000 milestone, which the cryptocurrency has been nearing but has yet to surpass.
Since Donald Trump's election, bitcoin has crossed $90,000 and $95,000, yet faces a resistance zone (or "selling wall") around $100,000. This was evident on November 22 when bitcoin reached $99,655, narrowly missing $100,000 before dropping back down (it was around $95,000 the previous Thursday).
There is a psychological aspect in finance when breaking significant numbers, especially in the bitcoin market, often viewed as a speculative asset rather than a long-term investment. Some speculate that traders who bought before the U.S. election might be cashing in their gains just before reaching $100,000. However, a more optimistic source suggests multiple attempts at this price point are needed to break the selling wall, indicating it’s merely a matter of time for this threshold to be crossed.
