Bitcoin Could Hit $100,000 by the End of November, Analyst Suggests

Bitcoin has recently hit a new all-time high (ATH) of $93,000, following a dramatic surge after Donald Trump's pro-crypto 2024 presidential win.

As the cryptocurrency continues to break records, analysts are projecting that Bitcoin could soon reach $100,000, with some experts predicting it may happen within the next few weeks.

Ryan Lee, chief analyst at Bitget Research, predicts that Bitcoin could reach the $100,000 milestone as early as November. He points to historical trends, noting that November has historically been one of the best months for Bitcoin’s performance.

According to Lee, a 14.7% rise from Bitcoin’s current price would be enough to propel it beyond $100,000 before the month ends. He highlights both the post-halving cycle and past performance data as strong indicators for the potential price increase.

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While the majority of analysts are optimistic about Bitcoin’s trajectory, some, like those at Bitfinex, suggest that the price may experience some short-term consolidation before reaching $100,000. They acknowledge the bullish momentum, but expect a modest correction could occur before Bitcoin surges past the $100,000 mark within the next few months.

Additionally, Bitfinex analysts believe that the political climate, particularly Trump’s win, could help drive broader crypto adoption, pushing Bitcoin to new heights over the next few years. Despite potential short-term fluctuations, they remain confident in Bitcoin’s long-term growth prospects.

Source

Kosta Gushterov