After 2022 saw Bitcoin's (CRYPTO: BTC) price crater 65% amid an aggressive rising rate environment, this year has been a turnaround story. The top digital asset's recent rally (up 76% as of Aug. 14) has many investors excited about its long-term potential.
Bitcoin currently commands about 49% of the overall cryptocurrency market, which is not surprising given its first-mover advantage. And the current price of $29,400, while still 57% below its peak, is astronomically higher than where it was a decade ago.
But can Bitcoin reach $100,000, equaling a more than threefold rise? Here's why I think this is completely within the realm of possibility.
Source Fool.com