Bitcoin’s Path to $100,000: Expert Predictions

Since the beginning of the month, the leading cryptocurrency has shown a rapid ascent, nearing the $90,000 mark on November 12. Are there enough market incentives for Bitcoin to reach the psychological threshold of $100,000 in the coming days, and what obstacles might it face? ForkLog sought insights from experts.

What Are the Conditions?

Trader Vladimir Cohen drew parallels between the current crypto market situation and the autumn of 2023: similar technical patterns, liquidity volumes, and growth rates. In both instances, Bitcoin rose by 70% over two months.

“Then and now, the main fuel for growth was short liquidity and newly issued USDT. The difference is that now BTC is at an all-time high. Typically, this is followed by a significant correction,” the expert warned.

According to him, despite nearing the $100,000 mark, the cryptocurrency needs to offload open long interest on futures.

“Therefore, the next wave of growth will only occur after Bitcoin closes the gap on the CME between $78,100 and $81,200,” Cohen believes.

He anticipates a rally in December if several conditions are met:

• an update of the S&P 500’s all-time high;
• another rate cut by the Fed;
• a steady inflow of funds into Bitcoin ETFs;
• easing of monetary policies by central banks;
• MicroStrategy continues buying BTC, and the US government refrains from selling it.

“A powerful driver could be the purchase of bitcoins for the balance sheets of large companies or funds. For instance, if Elon Musk announces a large purchase, it could lead to a strong impulse and breach of $100,000. Combined, these factors will not only break through but also maintain above this level,” Cohen concluded.

Many Risks Involved

The rapid rise adds many risks, and a direct trajectory to $100,000 is now “unlikely,” stated Nikita Zuborev, an analyst at the BestChange aggregator.

According to him, this is hindered not only by simple overbought conditions, as indicated by technical indicators (such as RSI at extreme values above 80), but also by the protective mechanisms of market makers.

“At levels above $90,000, triggers for active sales by major market players will start to activate, significantly slowing growth and, in the short term, even reversing the trend, causing panic among retail investors and changing indicators for trading robots,” Zuborev explained.

Nevertheless, his medium-term forecasts remain positive.

“Presumably, a six-figure price can be seen by the end of 2024, with the most conservative forecast pushing this event to the second quarter of 2025 (approximately mid to late May). Meanwhile, nothing currently suggests that Bitcoin cannot reach this price in the current growth cycle,” the analyst reassures.

Yet, in the coming weeks, due to the previous rapid rise, he does not rule out a technical pullback. In the best case — a correction to the first major support level around $73,000-74,000 with a gradual return to the $77,000-80,000 zone for further consolidation before another price rally.

“In a more pessimistic scenario, if more negative factors accumulate, the decline will intensify, and the price could reach the previous stable zone around $68,000-70,000,” he added.

Zuborev’s most negative forecast is a drop to the $58,000-60,000 level, from which the current growth began. Although “nothing foretells disaster,” he recommended investors consider this level when placing margin positions.

2025 Brings New Records

CEO of VC studio ReWolt, Alfred Khamzin, remains optimistic about breaking the $100,000 level in 2024.

“Immediately after, we will see a medium-term correction. But globally in 2025, according to my forecasts, we will confidently consolidate above. Undoubtedly, the main factors will be institutional players and BTC-ETFs coupled with Bitcoin options,” the expert shared.

According to the founder and acting CEO of CeDeFiAi, Tony Bee, Bitcoin will easily surpass even the $120,000 mark on an endless stream of positive news, considering the hype from Donald Trump’s election as US President and the creation of a DOGE department with Elon Musk at the helm.

“We have entered a hypercycle. If there is no ‘black swan’ in the form of any mischief from the current US authorities and with the right mindset of ETF investors, we might see $113,000 as early as next week,” he believes.

At the time of writing, the share of bets on the prediction market Polymarket that the price of the leading cryptocurrency will exceed $100,000 by the end of the month stands at 38%, although on November 11 it was at 57%.

Earlier, Onramp Bitcoin co-founder Jesse Myers called Trump’s victory a secondary factor in Bitcoin’s growth, reminding about the halving.