Bitcoin $100K or Dogecoin $1? It's obvious

It's every week's mission at Benzinga to gather traders' thoughts on the topics that matter most to them as they manage and develop their own portfolio.

Over 1,000 Benzinga visitors were asked about cryptocurrency trading and investment this week: BTC at $100,000 or Dogecoin (CRYPTO: DOGE) at $1, which will happen first?

70.2 percent of the time, Bitcoin will hit $100,000 first.Dogecoin has a 29.8% chance of becoming the first cryptocurrency to hit $1.

Is it conceivable or impossible for Bitcoin to reach $100,000? Many people are wondering whether Bitcoin will hit $100,000 in 2022, given the current price volatility.

Examining the price movements of prior market cycles may help determine whether or not Bitcoin can reach $100,000. 

At the time of writing, the world's most valuable cryptocurrency, Bitcoin, is up 1.61 percent to roughly $29,750.