CandleFocus When Will Bitcoin Price Reach $100,000? Here are Experts’ Predictions
2024-11-18
Author: Content Editor
The cryptocurrency market is buzzing with speculation about Bitcoin's potential to surpass $100,000, with predictions ranging from the near future to a skyrocket to $1 million. Bitcoin reached a record high of $93,000 after Donald Trump won the presidential election, and it is expected to grow by 120% by 2024. A prediction market on Polymarket gives a 64% probability of Bitcoin reaching $100,000 by the end of this year. Some market observers predict an even more dramatic rise in the coming years. Trump's return to the White House is seen as potentially favorable for the cryptocurrency industry, with promises of crypto-friendly regulations and the creation of a national Bitcoin reserve. Research firms Bernstein and Standard Chartered predict Bitcoin will surpass $100,000, with Standard Chartered even predicting a jump to $125,000 by the end of this year. Bitwise Chief Investment Officer Matt Hougan believes Bitcoin's journey to becoming a mature store of value like gold has just begun and sees potential for a rally to $500,000 in 2024 with the launch of spot Bitcoin ETFs and institutional adoption. BitMEX co-founder Arthur Hayes is even more optimistic, arguing that Trump's plans to revive American industry could push Bitcoin past $1 million in the next few years by weakening the US dollar through government subsidies and expanded bank loans.
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