Is there a difference from buying a cheap $100 bike from buying a +$200 bike?

Crave

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I want to buy a mountain/road bike however im on a budget. I will be using the bike every weekend or so on the local bike trail and some down hill unpaved roads.
I was thinking of buying a $100 bike from Walmart, however what would be the difference between a cheap bike and a more expensive bike?
 
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