The $100000 level is a significant milestone in Bitcoin’s price history. Often, this level is considered a psychological barrier and a potential indicator of Bitcoin’s mainstream adoption. Today, we’re immersing ourselves in the world of Bitcoin. This resilient asset continues to navigate and overcome significant challenges following the halving and the mainstream expectation of reaching a $100.000 psychological level.
Bitcoin Fundamental analysis
Key points
- Bitcoin began its halving on April 19, 2024, so Bitcoin could hit $100,000 – achievable.
- Since the halving, concerns have arisen about how miners can meet the increasing demand for powering the Bitcoin.
- The Bitcoin price has remained slightly upside since halving despite high expectations.
Technological issues
Mining Bitcoin (BTC)
The halving of Bitcoin is expected to lead to a reduction in the cryptocurrency’s supply. Therefore, the rewards for miners have decreased from 6.25 to 3.125 Bitcoin per block mined.
These issues in Bitcoin mining are pressing as many individuals continue to navigate the increasingly complex landscape.
They require more powerful ASIC mining machines and specialized hardware for cryptocurrency mining. Previously, you could have used regular CPUs and GPUs, even from a laptop.
GPUs, or Graphics Processing Units, are specialized hardware designed for rendering graphics quickly. CPUs, or Central Processing Units, are the general-purpose processors found in most computers.
These have become obsolete and can now be used only in cryptocurrencies, which don’t require as much power as Bitcoin and Ethereum.
Initially, you could mine an entire block in a relatively short time. However, nowadays, it is much more complicated, not only because of the increasing power required for calculations but also due to the time and frustration of waiting to complete that process.
The mining process is susceptible to price fluctuations. This difficulty was evident in 2016 when many miners gave up and flooded the market with second-hand mining machines.
Competitors of Bitcoin cryptocurrency
While Bitcoin excels in certain aspects, such as being the first and having a vast number of miners to sustain the network, it has scalability limitations; in this sense, it can process only seven transactions per second.
Bitcoin’s competitors have better scalability. Avalanche outperforms both Bitcoin and Ethereum in this regard. Additionally, Bitcoin’s code has limited programmability compared to its second rival, Ethereum. For example, you can write your crypto smart contracts on the Ethereum platform.
The early and fast adoption has created challenges for energy consumption and technological advances in energy supply.
Tezos, for example, is way more efficient in this regard. This is especially relevant now, as many companies, both technological and otherwise, are integrating artificial intelligence (AI). That demand also creates problems with energy consumption in the crypto industry.
If a green revolution were to occur, it would create challenges for the planned integration of the timeline.
Anonymity is not Bitcoin’s best feature. Not even close. Monero is best in this aspect.
Despite its challenges, Bitcoin remains a reliable investment due to its robust security measures and decentralized nature.
Bitcoin Technical Analysis
Key points
- Since halving on April 19, 2024, the price has fluctuated widely
- Bitcoin has gone lower, making both lower highs and lower lows, increasing anxiety among technical traders
- The price has consistently stabilized near the average of a slightly downward channel that started in March 2024
Governments and their policies in relation to Bitcoin
As mentioned earlier, Bitcoin prices have oscillated for some time. There are rumors that the Federal Reserve, through its policies, will drive Bitcoin’s price to $150,000. This speculation relies on the potential impact of the Federal Reserve lowering interest rates on the US dollar.
Additionally, Germany recently sold all its seized cryptocurrency (mainly Bitcoin) from illegal activities, which increased the supply of Bitcoin in the market, causing the price to reach its annual low of $ 53,485.93 on Binance.
Also, former US President Donald J. Trump announced that the US should hold a reserve and commit to this idea if he were elected again.
Additionally, former US President Donald J. Trump announced that the US should hold a Bitcoin reserve and commit to this idea if he were to be elected again.
This promise is controversial because it was made during a period of intense political campaigning in the USA.
People wonder if it is only a way to compete with Democrat Kamala Harris, who seemingly captured the attention of a good chunk of Gen Z with her “Brat” videos.
Bitcoin technical analysis
At first glance, Bitcoin has developed a Flat structure from March 14, 2024, when the A-wave began, to the C-wave, which ended at $53,485.93. There are similarities between its waves: the A and B waves. Also, the internal structure of B, the sub-wave B, has the proper complexity of a B-wave, and there are also similarities between a and c waves.
Does the $100,000 Target Still Hold?
Now, the structure a-b-c can reach $100,000 without reverting to the previous trading range. Of course, it can still climb relentlessly without significant pullbacks. It depends on what it does from now on. It needs to develop a minor degree corrective structure against this last upward move from $53,485.93.
This upside move, which rose from the July low, appears impulsive, but the price must correct itself for at least a day or two, and it should stabilize around the $59,000 level.
Where does the 100.000 scenario invalidates?
$58,475 should be the stop-loss, in which case the scenario mentioned earlier invalidates. This turn of events would indicate more range trading, and the structure A-B-C would be just a segment of a higher-degree wave structure, which will last until around April 2025 at the latest.
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⚠️ Disclaimer
This article isn’t trading advice, and any financial loss associated with it is solely your responsibility.
However, a more cautious investment approach can generate stability and profit in the long run.
Refined Elliott Wave patterns are complex to identify, and there is always room for error. I don’t recommend using them, especially if you are a beginner in investing. Always seek professional financial advice when investing. Thank you!
News sources and data:
Germany sold all its seized cryptocurrency
Speech: Donald Trump Speaks at Bitcoin Conference in Nashville – July 27, 2025
