Originally published on: November 23, 2024
The excitement surrounding Bitcoin’s price surge continues to grow, with predictions indicating a possible year-end price of $125,000 or higher. According to Kalshi, a leading prediction market platform, there is an 85% probability that BTC will reach $100,000 before the close of 2024.
While Bitcoin has yet to hit the coveted $100k mark, experts believe it’s only a matter of time. The odds of BTC/USD surpassing $100,000 by December 31 are currently at an impressive 85%, with a 9% chance of reaching $150,000 and even a possibility of exceeding $250,000.
Kalshi’s median forecast points to a $125,000 Bitcoin price by the new year, reflecting the growing sentiment that a breakout rally above $100,000 is on the horizon. The Kobeissi Letter described these numbers as “wild,” predicting that Bitcoin’s market cap could reach $2.5 trillion by January 1.
Bitcoin’s recent price surge has been remarkable, with gains of nearly 40% in November and 55% in Q4 overall. This year is shaping up to be as lucrative as the final quarter of 2023, according to data from CoinGlass.
Despite calls for a potential retracement to consolidate gains, Bitcoin has shown no signs of slowing down since surpassing its previous all-time high. The $100,000 price level remains a significant psychological barrier for Bitcoin, but the market seems determined to break through it.
Institutional investors have been driving mass inflows into Bitcoin, with ETFs absorbing a majority of sell-side pressure from long-term holders. Glassnode’s latest newsletter highlights the success of US Bitcoin ETFs, which saw record inflows in the past week, pushing total assets under management to over $100 billion.
As always, it’s important to remember that all investments carry risks, and readers should conduct their own research before making any financial decisions. Stay tuned for more updates on Bitcoin’s price predictions and market trends.