PatriciaBitcoin:
With the global pandemic, worldwide market uncertainty, travel restrictions, and lockdowns, there’s just one asset that saw a major rise in Bitcoin.
With the post-pandemic era, crypto-assets continued to pop up every now and then as compared to the pre-pandemic value, especially with start-ups and retail investors joining the crypto train.

Looking at the long run, analysts have postulated that the price of Bitcoin could touch $100,000 by 2022.

Bitcoin was introduced to provide an alternative solution to present-day financial defects, and of course, the digital coin’s value was at $0. In 2010, after the Bitcoin Pizza transaction, people attributed Bitcoin as a currency used to buy goods and services.

Bitcoin became more popular in 2013 and reached $1000, which rose significantly to $19, 000 after the second Bitcoin Halving took place.
However, in 2018, its value dropped to about $5000 at the beginning of 2020. Up until now, there have been two events that have affected Bitcoin’s value. One of them is the global pandemic and the second is the third bitcoin halving event of May 2020.

Global pandemic: When this occurred, bitcoin became insurance against economic upheaval which came as a result of the COVID-19 pandemic. Major investors like Tesla and others put their trust in bitcoin.

Third bitcoin halving: Bitcoin halving is the process of halving the rewards of mining bitcoin after each set of 210, 000 blocks have been mined. This event occurs every four years, and the rewards of bitcoin are cut in half.

The result of the third halving caused the mining price of 12.5 to be reduced to 6.25 BTC in May 2020. This reduced circulation of bitcoin, which set off a high demand.

After the October 2020 rally, the value of Bitcoin crossed $20,000 in December of the same year, $40, 000 in January 2021, and finally hit $50,000 in February 2021. As of the time of writing this article, the value of Bitcoin is $57, 074.

The question is will Bitcoin hit $100,000 by the end of this year? This is only a speculation by analysts, who believe that with the current rate of inflation, it is possible for the digital currency to go over the moon in the nearest future.

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