Bitcoin (BTC) has surpassed $90,000 and reached a new ATH at $93,000, just a week after pro-crypto Donald Trump won the 2024 presidential election.
While BTC is breaking records one after another in a very short period of time, analysts expect BTC to reach $100,000 in the short term.
When Will Bitcoin Reach $100,000?
Accordingly, Bitget Research chief analyst Ryan Lee said that he expects Bitcoin to reach a new ATH of $100,000 in November.
Ryan Lee based his prediction on historical data. Accordingly, the analyst noted that November was known as the best month in terms of Bitcoin returns and said that BTC could reach $ 100,000 before the end of the month.
“If history repeats itself and the Bitcoin price rises as predicted, a mere 14.7% increase from the current price level would propel BTC well above the $100,000 target before the end of November.
Historical November returns and the post-halving cycle trend are also quite useful when predicting Bitcoin price movements.”
Bitcoin May Fall in the Short Term!
Bitfinex analysts, other than Ryan Lee, are also positive about the Bitcoin price and think that $100,000 could come in a few months rather than in November.
Bitfinex analysts, who are more optimistic about Bitcoin’s price trend through 2025 at this point, said that Donald Trump’s victory would spur crypto adoption and pave the way for BTC to surpass $100,000 in a few months.
“It is difficult to predict the Bitcoin price at this stage, but we expect Bitcoin to fluctuate and consolidate a bit after the recent highs.
In our view, a target of $100,000 for Bitcoin in a few months doesn't seem too far-fetched.
However, given the current bullish momentum in BTC and the potential for a very modest correction at some point, we expect Bitcoin to have limited downside potential at the moment.”
*This is not investment advice.