Bloomberg

Bitcoin-at-$100,000 calls become uncomfortable after pullback

Bitcoin's getting a drubbing this week as the Federal Reserve readies a removal of stimulus, but bulls are feeling as emboldened as ever.

Foto: FLORENCE LO/REUTERS / X06710

The largest cryptocurrency by market value has shed about $80 billion since the start of the year amid a slump that's brought it to its lowest levels since its early-December flash-crash. But out have come predictions it can still reach the vaunted $100,000 level at some point this year.

It would have to more than double from current levels around $42,900 to arrive at that milestone. Analysts say it's not that it can't -- it's posted plenty of triple-digit annual returns over the past decade -- but that the road ahead might be more difficult for cryptocurrencies with a more hawkish Fed...

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