Bitget App
Trade smarter
Open
HomepageSign up
Bitget>
News>
Bitcoin Prediction: Asset Management Firm Forecasts $100K Price Soon

Bitcoin Prediction: Asset Management Firm Forecasts $100K Price Soon

Cryptodnes2024/07/24 20:22
By: Cryptodnes
BTC+0.65%AIOLD0.00%

Ding Chen, CEO of CSOP Asset Management, forecasts that Bitcoin might soon hit $100,000, aligning with traders who believe that a rally spurred by Donald Trump’s support could be substantial.

Trump is scheduled to speak at the Bitcoin 2024 Conference this week, with speculation about a major Bitcoin announcement, possibly a strategic reserve.

CSOP has recently launched Asia’s first inverse Bitcoin ETF in Hong Kong, allowing investors to profit from declines in Bitcoin prices . Chen highlighted that this product addresses the lack of options for shorting Bitcoin.

Chen supports the view that Bitcoin could rapidly approach $100,000, partly due to Trump’s pro-crypto stance and positive market sentiment following Trump’s vice presidential pick, JD Vance.

READ MORE:
Kraken Completes Mt. Gox Payouts Without Triggering Bitcoin Sell-Off

While recent Bitcoin ETF launches have not significantly boosted the market, BlackRock’s iShares Bitcoin Trust has attracted substantial institutional investment, with $19 billion in inflows this year. Despite a brief outflow, interest remains strong.

Matrixport notes that a rebound in Bitcoin’s hash rate, a key indicator of future rallies, signals a promising outlook. Bitcoin miners are also expanding into AI as mining revenues decline.

SHARE: SHARES
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
PoolX: Earn new token airdrops
Lock your assets and earn 10%+ APR
Lock now!

You may also like

New spot margin trading pair — YB/USDT!
Bitget Announcement2025/10/16 08:00
YBUSDT now launched for futures trading and trading bots
Bitget Announcement2025/10/15 11:07

Trending news

More
1
[Initial Listing] Bitget Will List Revive (RVV) in the Innovation Zone
2
New spot margin trading pair — YB/USDT!

Crypto prices

More
Bitcoin
Bitcoin
BTC
$108,838.3
-2.04%
Ethereum
Ethereum
ETH
$3,913.92
-2.36%
Tether USDt
Tether USDt
USDT
$1
-0.04%
BNB
BNB
BNB
$1,145.11
-2.89%
XRP
XRP
XRP
$2.35
-2.67%
Solana
Solana
SOL
$187.01
-3.18%
USDC
USDC
USDC
$0.9998
-0.02%
TRON
TRON
TRX
$0.3171
-1.30%
Dogecoin
Dogecoin
DOGE
$0.1895
-3.43%
Cardano
Cardano
ADA
$0.6475
-3.30%
How to sell PI
Bitget lists PI – Buy or sell PI quickly on Bitget!
Trade now
Become a trader now?A welcome pack worth 6200 USDT for new users!
Sign up now
Trade smarter