Bitcoin Hits $100,650 Before Retracing: Is $120K the Next Milestone?

• Bitcoin price $100K milestone sparks debate on its $120K or $1M potential.
• Experts split: Bitcoin could hit $1M or face a pullback to $40K-$50K in 2025.
• Bitcoin adoption grows, fueling predictions of ‘hyperbitcoinization’ worldwide.

Bitcoin briefly hit $100,650 earlier today, but it’s now hovering around $99,590. Quite a few crypto analysts and experts tracking BTC price closely believe Bitcoin could still reach $120,000, $200,000, or even more. This echoes Eric Trump’s earlier prediction that Bitcoin could hit $1 million. Now, Samson Mow, the CEO of Jan3, has joined the chorus. He has also suggested Bitcoin to eventually reach $1 million and thinks this rise will be fast and dramatic, like the sudden fall of traditional currencies.

In an interview with David Lin, Mow also said that more countries are adopting Bitcoin, hinting towards “hyperbitcoinization,” where Bitcoin could become the world’s dominant currency.

Clem Chambers’ Bitcoin Warning

Clem Chambers, founder of ANewFn, disagreed with Mow’s prediction. He thinks that once Bitcoin’s price gets close to extremely high targets, like $1 million, it’s time to consider selling. Chambers believes that the major Bitcoin price increases might be over. However, there could still be some upside, like a rise to $120,000. He expects Bitcoin to face a pullback soon, similar to past cycles.

Chambers also commented that while Bitcoin is often seen as an antidote to big government, he doesn’t believe that’s how it will play out. He explained that Bitcoin’s rise is a result of government mismanagement, but when governments catch up, they may attempt to stifle it

Read also: Why Bitcoin’s $100K Roadblock Could Trigger a Price Surge

Bitcoin’s Value: Is it Still Undervalued?

However, Mow argued that Bitcoin is still undervalued at $100,000. He thinks Bitcoin should already be worth around $200,000, given the current state of the world’s economy and the growing number of people and countries adopting Bitcoin. Mow believes that Bitcoin is on track to become the world’s primary financial asset, with no clear “top” price in sight. He advises buying Bitcoin whenever you can.

2025 Outlook: Is it a Good Time to Buy Bitcoin?

Chambers shared his outlook for Bitcoin in 2025, explaining that he prefers to buy assets when they’re cheap and sell them when they’re expensive. 

Read also: Bitcoin is Still in Early Adoption Stages – BlackRock

According to him, Bitcoin isn’t cheap anymore, as it was much lower in 2018. Back then, he encouraged people to buy Bitcoin, but now that it’s priced around $100,000, he believes there’s only about 20% more potential upside. Chambers thinks Bitcoin is getting expensive, and he said that it might be better to expect a price range of $40,000 to $50,000 sometime this year.