Bitcoin Forecast: 85% Chance of Surpassing $100K by Year-End, Analysts Predict
Bitcoin is on the brink of hitting a major milestone – $100,000. Market forecasts are looking optimistic, with an 85% chance that Bitcoin will surpass this mark by the end of the year. Some analysts even predict a potential value of $150,000, although the median projection sits at $125,000.
The recent surge in Bitcoin prices has been impressive, with a nearly 40% increase in November alone, contributing to a 55% surge over the fourth quarter. Analysts believe that if this trend continues, Bitcoin’s market cap could hit $2.5 trillion if prices reach $127,000 by early 2025.
One of the key drivers behind this upward momentum is the rise of Bitcoin-focused exchange-traded funds (ETFs). These funds have absorbed over 90% of the sell-side pressure from long-term Bitcoin holders, helping to stabilize prices amidst increased profit-taking.
Recent data shows that Bitcoin ETFs in the U.S. have seen record-breaking inflows, with total assets under management surpassing $100 billion. This growing interest in ETFs reflects a broader institutional appetite for Bitcoin as a legitimate asset class.
Notable Bitcoin advocate, Michael Saylor, co-founder of MicroStrategy, remains optimistic about the cryptocurrency’s future. Saylor believes that Bitcoin could reach $100,000 as soon as December, citing a potential shift in U.S. regulatory attitudes towards digital assets.
While some analysts are cautious about a potential price correction, they acknowledge the undeniable momentum behind Bitcoin’s current rally. With increased adoption and strong institutional support, Bitcoin seems poised to end 2024 on a historic high, solidifying its position as a significant player in the financial world.
