Experts: Predicting Bitcoin price will reach $120,000 is too low.

(Dan Tri Newspaper) - This is the third time in history that the price of Bitcoin has surpassed the $100,000 mark. The entire cryptocurrency market also benefited from this positive news.

According to data from CoinMarketCap , the price of Bitcoin has increased by 6.5% in the past 24 hours, reaching $103,750. As of noon on May 9th, the world's largest cryptocurrency was trading around $102,680. This also marks the third time in history that the price of Bitcoin has surpassed the $100,000 mark.

This is the third time in history that the price of Bitcoin has surpassed the $100,000 mark (Image: Finance Monthly).

Bitcoin's surge followed US President Donald Trump's announcement of trade cooperation between the US and the UK. Besides Bitcoin, the entire cryptocurrency market also benefited from this positive news.

Statistics from Alternative 's cryptocurrency market sentiment tracker show that the Fear and Greed index rose to 73 points on May 9th. Last month, the index fluctuated between 18-25.

This is also the highest level the index has reached in the past three months. This indicates that investor sentiment in the cryptocurrency market has become more positive after a long period of market decline.

"Not only has Bitcoin regained the $100,000 mark after three months, but this growth also helps solidify its position as a resilient asset as the outlook for US trade deals brightens," said Antoni Trenchev, co-founder of the cryptocurrency exchange Nexo.

However, the expert also noted that Bitcoin is not yet out of trouble. The cryptocurrency will need to surpass its all-time high of $109,350 reached in January.

Previously, an analyst from Standard Chartered predicted Bitcoin would reach $120,000 in the second quarter. Now, however, this person has unexpectedly changed their mind and believes the price they predicted was "too low".

"I apologize that the $120,000 target for the second quarter is too low," said Geoffrey Kendrick, head of digital assets at Standard Chartered.

Bitcoin has been viewed as a scarce digital asset and a store of value (Image: CryptoNews).

Over the past three weeks, $5.3 billion has flowed into the market from Bitcoin ETFs. This demonstrates the growing interest of institutional investors in this asset class.

In a report published last month, Grayscale highlighted that Bitcoin has come to be seen as a scarce digital asset and a store of value.

The company stated that in an environment where prices are soaring while economic growth is sluggish, investors will seek channels for preserving value. In this context, Bitcoin, with its limited supply and decentralized nature, will become an attractive option.

Source: https://dantri.com.vn/cong-nghe/chuyen-gia-du-bao-gia-bitcoin-dat-120000-usd-la-qua-thap-20250509105318114.htm