On election night, Bitcoin hit a new high, but traders have their sights set on an even bigger milestone by year’s end: Bitcoin at $100,000.
If Bitcoin hits six figures, 2024 would go from a modest bull run to a full-blown crypto boom. Judging from the numbers: $100,000 is currently the top pick for Bitcoin call options set to expire on Dec. 27.
Onchain and technical analysis pundit Alicharts pointed out on X that, looking back, Bitcoin tends to hit market tops around 8 to 12 months after closing above its previous all-time high on a monthly basis. So, if the trend holds, we could be seeing the next big BTC peak somewhere between July and November 2025.
Historically, #Bitcoin has reached market tops roughly 8 to 12 months after achieving a monthly close above its previous all-time high.
— Ali (@ali_charts) November 6, 2024
If this pattern continues, the next potential market top for $BTC could occur between July and November 2025. pic.twitter.com/aWBZDBpUea
The analyst had previously forecasted that Bitcoin would reach $78,000, experience a pullback to $71,500, and then rebound to $85,000. After the election he stated that Bitcoin’s movement was aligning with his predictions.
He had previously said Bitcoin would surge to $72,000 before retesting the $69,000 support zone. He suggested that if this level held solid ground, which it did, Bitcoin could eventually rally toward the $78,000 mark.
5 Year on HODL Bitcoin Remains Solid Inside Investor Wallets
Here's the crazy part: even after Bitcoin shot up and hit a new all-time high right around the time Trump got elected, over 30% of all Bitcoin in circulation for the last five years hasn’t budged.
Bullish Bitcoin Predictions: $100,000 to $225,000
Crypto Rover, a prominent analyst with 884,000 followers on X, has made a bullish prediction for Bitcoin, forecasting a price of $225,000.
My #Bitcoin bull run price target is $225,000! pic.twitter.com/N45W4isIZx
— Crypto Rover (@rovercrc) November 7, 2024
Additionally, a report from CoinCodex anticipates Bitcoin's price to rise by 33.41%, reaching $91,788 by December 4, 2024. These forecasts reflect a growing confidence among experts in Bitcoin's upward trajectory.
Bitcoin’s pushing close to $74,600 as of Wednesday, and a six-figure milestone would mean it needs to climb another 34%. It’s already jumped 17% in the past month, with investors betting big on a Trump White House comeback.
But it’s more than just election hype or Trump’s “to the moon” promises for crypto.
Fadi Aboualfa, Copper.co’s head of research, says they’re seeing $100,000 as “quite possible” by the next presidential inauguration, thanks also to the increasingly growing trend of ETF buying.
Hands Up for a Pro-Crypto America
Bitcoin hit a new all-time high on Tuesday night, smashing the record it set back in March 2024 just before the halving event, and a few months after the kick off for ETF trading.
Trump’s win has supercharged an already-growing crypto bull run that started way back when the year began, fueled by other events like the halving, the launch of Runes, and political moves in the U.S.—like the green light for bitcoin ETFs.
On top of that, everything seems to be lining up for some serious growth in bitcoin.
Pro-crypto candidates scored wins on both sides in Congress, and with Trump in office, we might see the administration hold onto bitcoin seized from criminals. Plus, Gary Gensler, the SEC chair who’s been the industry's biggest roadblock, could be on his way out. Well didnt the president elect promise to fire him on his first day in office if elected?
Historically, bitcoin has surged in the months following the last two presidential elections—let’s see if this trend holds.
Kataryna Habeliia
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