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Analysts predict Bitcoin may reach $100K by end of 2024

Analysts predict Bitcoin may reach $100K by end of 2024

GrafaGrafa2024/10/16 04:00
By:Isaac Francis

Market analysts have shared their insights on Bitcoin's (CRYPTO:BTC) potential performance for the rest of 2024 and into 2025, suggesting a bullish outlook driven by various factors. 

Bitcoin, which recently spiked to $67,950 before retreating to $67,000, is expected to continue its upward trend, according to predictions from key analysts.

In a recent analysis, Mister Crypto highlighted that Bitcoin’s market dominance is nearing a critical decline, hinting at a possible major market event similar to previous downturns. 

He anticipates this could lead to parabolic rallies across the broader cryptocurrency market. 

For the end of 2024, Mister Crypto expects Bitcoin’s price to range between $95,000 and $100,000, supported by potential short squeezes that could accelerate its growth. 

“What he aims for by the end of the year are even greater peaks,” the report noted, suggesting optimism for a strong year-end performance.

Another analyst, Mikybull, noted that Bitcoin has started to emerge from a prolonged consolidation phase, reinforcing the likelihood of a price surge. 

According to him, breaking out of this phase could lead to Bitcoin hitting new highs, potentially nearing $100,000 before the end of the year. 

His analysis pointed out that favorable market conditions and increased buying pressure might play a crucial role in this rally.

Looking ahead to 2025, Daan Crypto Trades provided further insights, focusing on the impact of increased liquidity. 

He explained that, despite the slower-than-expected post-halving rise, Bitcoin could experience significant surges before the U.S. elections, driven by anticipated interest rate cuts. 

Daan's review suggests that higher liquidity levels could act as a catalyst, pushing Bitcoin’s value up further in 2025.

The upcoming U.S. elections could also influence Bitcoin's volatility, as political and economic shifts often impact investor sentiment. 

Analysts believe these changes, combined with broader market dynamics, could drive Bitcoin’s price momentum over the next few years. 

Although predictions remain speculative, the consensus suggests an optimistic outlook for Bitcoin’s value, with potential highs reaching $100,000 by the end of 2024.

At the time of writing, the Bitcoin (BTC) price was $67,243.69.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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