Since hitting an all-time high of almost $69,000 last November, Bitcoin's (CRYPTO: BTC) price has plunged about 70% as of this writing as investors have soured on risky assets. But despite the poor recent performance, this doesn't mean that the long-term potential for this top cryptocurrency is impaired.
In order for Bitcoin to reach $100,000 per coin, it would need to rise in value roughly fivefold. This might seem like a stretch, but it isn't out of the realm of possibilities. Let's take a closer look at what needs to happen.
Bitcoin's most prominent use case rests on it becoming viewed by investors as a "digital gold." For decades, gold has been a popular asset for people to park their money in. Bitcoin, however, has four key advantages compared to the precious metal.
Source Fool.com