In recent market developments, Bitcoin has experienced an impressive surge, soaring over 4.16% in value. This significant hike brings the current price tantalizingly close to the historic milestone of $100,000, with just a 4.9% gap remaining. Achieving this benchmark would not only be monumental for the cryptocurrency community but also spark interest among advocates of the Simulation Theory. Notably, Superstate CEO Robert Leshner has stated he might reconsider his stance on this revolutionary theory if Bitcoin exceeds the $100K mark on November 28. But what fuels this sudden excitement? Why is this particular date so noteworthy?
BTC & Nov. 28: What’s So Special About This Date?
As Bitcoin breached the $98,500 mark, expectations soared for it to reach the $100K milestone on that very day. However, the price peaked at $98,935, just shy of the target. Between November 23 and 26, the cryptocurrency market took a steep dive, losing over 7.002%. Yet, buyers demonstrated resilience, driving the price from $91,860.19 to $95,913. Should the market replicate this performance, reaching the $100K mark seems within reach.
Interestingly, November 28 holds historical significance for Bitcoin. On this day in 2013, Bitcoin achieved the $1,000 milestone. Fast forward to the same date in 2017, and Bitcoin had reached the remarkable $10K valuation. These milestones have contributed to the fascination surrounding November 28.
Simulation theory, introduced by Oxford philosopher Nick Bostrom in 2013, long before the rise of virtual and augmented reality, proposes that advanced civilizations might create simulations indistinguishable from reality. Although Leshner has yet to fully embrace the theory, he has promised to revisit his views if Bitcoin hits the $100K milestone on this notable date.
Market Odds Against Bitcoin Hitting $100K
Currently, the Bitcoin market has experienced a slight dip, with prices dropping from $95,832.12 to $95,380.00. Analyzing the hourly Bitcoin chart reveals that while buyers have attempted to recover from earlier setbacks, sellers have regained influence, driving prices downward.
Not everyone is optimistic about Bitcoin reaching the $100K milestone this month. Polymarket bettors, for instance, estimate only a 21% probability of Bitcoin achieving this goal by the end of November.
In conclusion, as Bitcoin inches closer to the $100,000 benchmark, the historical significance of November 28 and the surrounding theories amplify the intrigue and anticipation within the cryptocurrency landscape.
