Bitcoin Surges to $79,500 Amid $3B in Liquidations, Analysts Predict $100K Prices

The crypto market has experienced a significant rally in recent weeks, with Bitcoin reaching a local high of around $79,500 on August 21. This surge was accompanied by large-scale liquidations totaling nearly $3 billion, with $2.74 billion coming from short positions.

According to analysts, the asset is expected to reach $100,000 and higher in the near future. Standard Chartered's Geoff Kendrick predicts that Bitcoin will rise to $100,000 by 2026, while Coinbase CEO Brian Armstrong forecasts a price of $300,000, $400,000 by 2030.

Meanwhile, Binance founder Changpeng Zhao pointed out that a significant portion of mined Bitcoins may be lost or inaccessible, which could contribute to the asset's long-term scarcity and potential price increase.