Will Bitcoin Hit $100K? The Significance of November 28 Unveiled
Yesterday, the Bitcoin market rose by more than 4.16%. Currently, Bitcoin’s price is just 4.9% below the $100,000 milestone. If the price breaks through this milestone today, it will be a significant moment not only for the cryptocurrency community, but also for proponents of the simulation theory. Recently, Superstate CEO Robert Leshner only stated that he would be willing to reconsider his views on this revolutionary theory if the BTC market surpasses the $100,000 milestone on November 28. Why all the sudden hype? What’s so special about this date?
BTC and November 28th: What’s so special about this date
When BTC broke through the $98,500 level, many expected it to reach the $100,000 milestone that day. Buyers were unable to push the price above $98,935 on the day. Between November 23 and 26, the market plunged more than 7.002%. However, buyers tried hard to reverse the decline, pushing the price from $91,860.19 to $95,913. If the market repeats the same performance today, it will definitely hit the $100,000 milestone.
Interestingly, on November 28, 2013, Bitcoin reached the $1,000 milestone. At least four years later (2017) on the same day, the cryptocurrency reached the $10,000 milestone.
Simulation theory, proposed by Oxford University philosopher Nick Bostrom back in 2013 (long before the advent of virtual reality and augmented reality), holds that advanced civilizations can create simulations that are indistinguishable from reality.
Although Leshner claimed that he is not yet fully convinced of the credibility of the theory, he promised to reconsider his views on it if the BTC market reaches the $100,000 milestone on November 28.
Bitcoin market possibility reaches $100,000
Today, the Bitcoin market has fallen slightly from $95,832.12 to $95,380.00. Bitcoin’s hourly chart shows that while buyers have supported the market’s recovery from earlier losses, sellers have regained control, driving the price lower.
Not everyone is convinced that the BTC market will reach $100,000 this month. Polymarket punters believe that Bitcoin has only a 21% chance of reaching this milestone by the end of November.
All in all, the significance of November 28th and the theories surrounding it fuel curiosity as Bitcoin approaches $100,000.
