The post Will Bitcoin Hit $100K? The Significance of November 28 Unveiled appeared first on Coinpedia Fintech News
Last day, the Bitcoin market witnessed a surge of over 4.16%. Right now, the price of Bitcoin is just 4.9% below the milestone of $100,000. If the price crosses the milestone today, it would be a significant moment, not only for the crypto community, but also for proponents of the Simulation Theory. Recently, Superstate CEO Robert Leshner only expressed his willingness to reconsider his view about the revolutionary theory if the BTC market surpasses the milestone of $100K on November 28. Why this sudden hype? What’s so special about this date?
BTC & Nov. 28: What’s So Special About This Date
When BTC surpassed the $98,500 level, many expected that it would hit the milestone of $100K that day itself. Buyers could not push the price beyond $98,935 that day. Between November 23 and 26, the market steeply plummeted over 7.002%. However, buyers made a strong attempt to recover from the drop, pushing the price to $95,913 from $91,860.19. If the market repeats the same performance today, it could definitely touch the $100K milestone.
Interestingly, it was on November 28, 2013, that Bitcoin reached the milestone of $1000. On the same day, at least four years later (in 2017), the crypto achieved the $10K milestone.
Crypto Leader’s Remark Connecting BTC Price Action & Simulation Theory
Simulation theory, proposed as early as 2013 (long before the emergence of virtual reality and augmented reality) by Oxford philosopher Nick Bostrom, suggests that advanced civilizations could create simulations indistinguishable from reality.
Leshner, though claimed that he has not yet been fully convinced about the credibility of the theory, pledged to reconsider his view about it if the BTC market reaches the $100K milestone on November 28.
Market Odds Against Bitcoin Hitting $100K
Today, the Bitcoin market has slightly dropped from $95,832.12 to $95,380.00. The hourly chart of Bitcoin shows that although buyers supported the market to recover from the earlier drop, sellers have regained control, pushing the price downwards.
Not everyone believes that the BTC market will reach $100K this month. Polymarket bettors assign only a 21% chance for Bitcoin to reach the milestone by the end of November.
In conclusion, as Bitcoin edges closer to $100,000, the significance of November 28 and the theories surrounding it heighten the intrigue.