When will Bitcoin reach 100,000 USD?

Samson Mow also posted a few other tweets to share his views on the importance of Bitcoin, which he believes is growing rapidly today.

The main reason pushing Bitcoin to 100,000 USD

The CEO of Jan3 stated two reasons he expects to push Bitcoin to $100,000, the first creating the second. Mow believes that to skyrocket to $100,000, Bitcoin first needs to surpass its previous all-time high of $73,750 reached on March 14.

A new historic peak will then cause a Bitcoin demand shock and then 'BTC will go straight to $0.1 million,' he concluded in his message.

Bitcoin surpasses 71,000 USD

Over the past 24 hours, the leading digital coin has gained an impressive 3.7%, pushing its price back above $71,000 from $68,700 on Tuesday, June 4. On May 4, Bitcoin had three consecutive large green candles, increasing nearly 3% and reclaiming the $70,000 level with the rest of the growth taking place.

This sudden and strong price increase can be explained by the huge daily inflows that spot Bitcoin ETFs experienced on Tuesday June 4 when they raked in a total of $887 million. This is the largest daily inflow since Bitcoin ETFs were approved in January.

BlackRock's iShares Bitcoin Trust (IBIT) attracted $274 million, while the ARK 21Shares Bitcoin ETF (ARKB) attracted significant inflows of $139 million.

Samson Mow commented on the strong buying when he tweeted that given the level of buying compared to the existing Bitcoin supply, 'it is a miracle that Bitcoin stayed below $0.07 million for as long as it did. So'.

He also said that it would be crazy 'to have no exposure to Bitcoin at this time'.

At the time of writing at 6:00 a.m. today, June 6, Bitcoin is trading at $71,200.

Micah Soto

Update 06 June 2024