Bitcoin Breaks $100,000 Barrier: Milestone Sparks Mixed Reactions from Experts
December 5, 2024Experts, including Anthony Pompliano and Robert Kiyosaki, emphasized the psychological importance of Bitcoin breaking this resistance level, suggesting it could draw in more cautious investors.
Pompliano specifically noted that this milestone might entice skeptical investors, particularly from older generations, who may wish to invest to avoid missing out.
The Bitcoin community reacted enthusiastically to this achievement, discussing its psychological significance related to 'round numbers' and 'human psychology' in trading.
Peter Brandt, a seasoned trader, expressed confusion over the excitement surrounding Bitcoin reaching $100,000, referring to it as 'just another number' and describing the milestone as a 'big yawner'.
Despite Brandt's skepticism, Samson Mow, CEO of JAN3, reiterated his prediction that Bitcoin could eventually reach $1 million per coin, encouraging supporters to show their enthusiasm with 'laser eyes' avatars.
Changpeng Zhao, founder of Binance, commented on the surge but noted he did not profit significantly from it, as his Bitcoin holdings remained unchanged during the recent price dip.
Brandt has generally favored Bitcoin over other cryptocurrencies, notably criticizing Ethereum in the past.
Brandt hinted that he does not expect Bitcoin's rise to stop at the $100,000 mark, indicating a potential for further growth.
On December 5, 2024, Bitcoin achieved a historic price surge, surpassing $100,000 for the first time, marking a significant milestone in its trading history.
This surge represented an impressive increase of approximately 9.31% within 24 hours, climbing from $94,835 to over $100,000.
Summary based on 2 sources
Get a daily email with more Crypto stories
Sources
Investing.com • Dec 5, 2024
Legendary Trader Peter Brandt on Bitcoin $100,000: 'I Didn't Understand The Big Deal’