Crypto Expert Predicts Bitcoin Could Soar Above $100,000 – Here is Why

Bitget App

Trade smarter

Bitget

News

Cryptodnes2024/10/19 18:09

By:Cryptodnes

Matt Hougan, Bitwise COO, is optimistic about Bitcoin’s prospects, predicting the potential for a substantial rally that could push its price into six figures.

He attributes this outlook to several critical developments.

On October 18, a surge in spot Bitcoin ETF activity signaled growing interest from institutional investors. Bitcoin , currently valued above $1 trillion, has maintained momentum, trading at $68,154.

Analyst Eric Balchunas highlighted the rapid growth of U.S. Bitcoin ETFs, which have seen over $20 billion in net inflows, significantly outpacing traditional ETFs like those tracking gold.

Why Can We Expect Bitcoin’s Price to Keep Rising?

Looking ahead, experts suggest the 2024 U.S. presidential election could act as a catalyst for Bitcoin’s upward trajectory, especially with renewed political backing. Additionally, fiscal concerns and possible global interest rate reductions could boost Bitcoin’s appeal as a deflationary asset.

The aftermath of Bitcoin’s halving is already being felt, with large holders significantly increasing their reserves this year, now accounting for nearly 49% of the market’s realized value. The approval for Bitcoin ETF options trading by the NYSE could further drive this trend.

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!

- FUN plunged 32.34% in 24 hours to $0.008938, marking a 541.8% monthly loss amid prolonged bearish trends. - Technical breakdowns, elevated selling pressure, and forced liquidations highlight deteriorating market sentiment and risk-off behavior. - Analysts identify key support below $0.0080 as critical, with bearish momentum confirmed by RSI (<30) and MACD indicators. - A trend-following backtest strategy proposes short positions based on technical signals to capitalize on extended downward trajectories.

Bitget-RWA•2025/09/12 06:14

FUN drops by 32.34% within 24 hours as it faces a steep short-term downturn

OPEN has dropped by 189.51% within 24 hours during a significant market pullback

- OPEN's price plummeted 189.51% in 24 hours to $0.8907, marking its largest intraday decline in history. - The token fell 3793.63% over 7 days, matching identical monthly and yearly declines, signaling severe bearish momentum. - Technical analysts cite broken support levels and lack of bullish catalysts as key drivers of the sustained sell-off. - Absence of stabilizing volume or reversal patterns leaves the market vulnerable to further downward pressure.

Bitget-RWA•2025/09/12 06:14