One of the most enduring sentiments in the cryptocurrency market is speculation about when Bitcoin (BTC) will hit the $100,000 all-time high, with much of the speculation focusing on the timing of this milestone.
This sentiment has been further reinforced by crypto trading expert Captain Faibik, who believes that the leading cryptocurrency is primed to reach this position. In a TradingView post on August 17, the analyst noted that Bitcoin is currently in a critical phase that could propel it toward the $100,000 milestone.
Notably, reaching this mark would reward Bitcoin investors with nearly 70% gains from BTC’s current price of around $59,000.
Can Bitcoin reach $100K?
Faibik observed that Bitcoin has been consolidating within a Descending Broadening Wedge pattern since March 2024. This pattern, typically characterized by decreasing lows and increasing highs, suggests a potential breakout to the upside.
Bitcoin price analysis chart. Source: TradingView
Recent price actio
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