Bitcoin (CRYPTO: BTC) has been a winning investment this year, with its price up almost 60% in 2023 (as of Sept. 15). Interest from investors is growing after a tumultuous 2022 that saw digital asset prices tank as major businesses in the industry blew up. But it might be a good idea to set your eyes on a new price target, even after the huge gain this year.
In November 2021, Bitcoin hit an all-time high of nearly $69,000. And while it's 62% off that peak right now, I believe that the world's top cryptocurrency can reach $100,000 within the next five years. By looking at the quantitative and qualitative factors, I think other investors would tend to agree with this forecast.
As of this writing, Bitcoin's price is roughly $26,000, and its market cap is just over $500 billion. To keep the calculation nice and simple, if the crypto hits $100,000, it would translate to a gain of 300% in the next five years, good for an annualized increase of 32%. That return would surely crush the rise of the S 500 or the Nasdaq Composite, but it would match Bitcoin's trailing-five-year return.
Source Fool.com