Bitcoin Price Prediction: What's Next After $100K
Bitcoin (BTC)'s price has surged to new all-time highs, setting a historic milestone as BTC surpassed the $100,000 level. With crypto market sentiment continuing its bullish momentum, several industry experts are projecting higher BTC price targets.
This article explores the catalysts leading up to Bitcoin breaking the significant $100,000 mark, expert predictions on where BTC price could go, and tips on trading BTC post-$100K on Bybit.
Bitcoin price surpassed a historic record-high of over $100,000, spurred on by favorable US regulatory environment and increase in institutional demand.
Bitcoin price predictions made by experts in the market range from $150,000 to as high as $3.8 million.
Various trading strategies can be employed post-halving, including capitalizing on historical price patterns or using dollar-cost averaging for a long-term market stance. All of these strategies aim to effectively navigate the volatility of Bitcoin trading.
Bitcoin's Price Post-Halving
The Bitcoin halving, a pre-programmed event that reduces the reward for mining new blocks by half, took place on April 19, 2024, sparking excitement in the crypto world. Following the halving, miner's reward was cut from 6.25 BTC per block to 3.125 BTC. This process limits the total supply of new Bitcoin and increases its scarcity, which may affect its price and demand.
Typically following past halving events, Bitcoin's price has risen to all-time highs. For instance, after the first halving in 2012, the price of Bitcoin soared from about $12.20 to over $1,000 in 2013. Then, after the second halving in 2016, its price went from around $650 to almost $20,000 in 2017. More recently, after the third halving in 2020, Bitcoin's price shot up from around $9,000 to over $57,000 in 2021.
However, this year's halving event bucked the trend. BTC surpassed all-time high even before the halving event, largely due to the newly approved Bitcoin spot ETFs. BTC's price briefly surpassed its previous record high of $69,000 on Mar 5, 2024.
Following the halving, Bitcoin's price ranged between $54,000 to $71,000 for a good seven months.
What Led to Bitcoin Hitting $100,000?
Election of Donald Trump and Pro-Crypto Appointments
The election of Donald Trump as the next President of the United States played a significant role in Bitcoin reaching the $100,000 mark. Trump's pro-crypto stance and the expectation that his administration would foster a favorable regulatory environment for the crypto industry was a major catalyst.
Furthermore, his choice to appoint pro-crypto candidates, like Paul Atkins as head of the U.S. Securities and Exchange Commission (SEC) and Scott Bessent as Treasury Secretary, significantly boosted investor confidence, leading to a surge in Bitcoin's price. This optimism was based on the belief that policy changes would encourage broader adoption and investment in cryptocurrencies.
Surge in Institutional Demand
Another key factor is the surge in institutional investments in Bitcoin. The introduction and success of Bitcoin exchange-traded funds (ETFs) in the US, particularly those backed by major financial institutions like BlackRock, brought a new wave of investment into the cryptocurrency. Bitcoin ETFs saw a record $6.2 billion in net inflow for the month of November, according to Bloomberg. These ETFs reflect the staggering institutional demand, and cements Bitcoin's legitimacy and attractiveness as an asset class.
Microstrategy Bitcoin Buying Spree
Michael Saylor's MicroStrategy recently raised more funds through stock issuance to buy 15,400 Bitcoin worth $1.5 billion last week. This followed the acquisition of an additional 55,500 BTC for $5.4 billion, with these purchases occurring between November 18 and November 24, 2024, at an average price of $97,862 per Bitcoin. Following this acquisition, MicroStrategy now holds a total of 402,100 Bitcoins, which is almost 2% of the entire supply of Bitcoin. These were acquired at an average price of $56,761, bringing their total investment in Bitcoin to roughly $21.9 billion.
This significant buy has been part of a broader trend where large purchases by institutions like MicroStrategy tend to signal bullish sentiment in the market, contributing to Bitcoin's price surge past the $100,000 mark. The company's aggressive Bitcoin accumulation strategy has only increased its own stock value, with MSTR gaining 492% year-to-date, outperforming AI darling stock NVDA.
Psychological and Historical Milestones
Bitcoin reaching $100,000 was not just a numerical milestone but also a psychological level. Historically, when Bitcoin crosses previous all-time highs, it often experiences significant further gains, as investors tend to pile in after such breakthroughs. This psychological momentum was evident as Bitcoin approached and then surpassed this round number, which had been long anticipated by the crypto community as a significant threshold
Bitcoin Price Prediction Post $100K
With Bitcoin surpassing $100,000 and the crypto bull market in full force, what are experts predicting where BTC is headed? Here are some of the price predictions from experts in the markets.
Cathie Wood, Ark Invest
Ark Invest CEO Cathie Wood has shared revised price targets for Bitcoin by the year 2030, including a bullish scenario where companies allocated 5% to Bitcoin. In the bear case, Bitcoin could reach $258,500, while in the base case, BTC could hit $682,000. However, it is the bull case where her BTC price targets get eye-catching. She predicts that BTC could hit $1.48 million in the bull case, while the bullish case could see BTC price reach a staggering $3.8 million.
Michael Saylor, MicroStrategy
MicroStrategy founder Michael Saylor has been the most outspoken Bitcoin bull for years, consistently accumulating Bitcoin and raising funds through stock issuance to buy even more BTC. He predicts that Bitcoin will hit $100,000 by 2025, which has already come true. However, his other prediction drew more attention. Saylor predicts that BTC will reach a staggering $1 million per coin eventually.
Mark Yusko, Morgan Creek Capital
Mark Yusko of Morgan Creek Capital forecasts Bitcoin reaching $150,000 in 2025. He bases this on the increasing Fear Of Missing Out (FOMO) among investors, growing interest, and the network effect where Bitcoin's value increases as more people adopt it. Yusko sees these factors driving demand and pushing the price to new heights.
Tom Lee, Fundstrat Global Advisors
Tom Lee from Fundstrat Global Advisors predicts Bitcoin could surge to $250,000 by 2025. He points to the evolving political landscape in the U.S., which he believes could become more crypto-friendly, and the possibility of government accumulation of Bitcoin as key drivers. Lee suggests this shift could position Bitcoin as a legitimate alternative to traditional safe-haven assets like gold.
Standard Chartered
Standard Chartered Bank envisions Bitcoin reaching $200,000 by 2025, drawing comparisons to gold's price surge following the introduction of gold ETFs. They anticipate massive inflows into Bitcoin spot ETFs, which could lead to a similar quadrupling in price, driven by institutional and retail investor interest in these new financial products.
AllianceBernstein
AllianceBernstein predicts Bitcoin will hit $200,000 by September 2025. Their forecast is based on the ongoing bullish cycle in the crypto market, increasing institutional adoption, mainstream acceptance, and the impact of the 2024 Bitcoin halving which historically has led to price appreciation due to reduced supply growth.
Bullish BTC Trading Strategy: Breakout Trading
To capitalize on rising Bitcoin prices, you can use the breakout trading strategy, which captures significant price movements by pinpointing crucial levels of support and resistance. The idea is to anticipate a breakout from these levels, in the hope that when the asset's price breaks out of a trading range, it will likely continue moving in that direction.
Breakout traders employ chart patterns, technical indicators and confirmation techniques to identify potential breakouts, and enter trades accordingly. This strategy is versatile and applicable across different markets and time frames. However, traders must be mindful of false breakouts and market noise.
How to Execute This BTC Trade on Bybit
Identify a horizontal resistance level and an upward-sloping support trend line on the BTC price chart, forming an ascending triangle pattern that suggests a potential bullish breakout.
You can use technical indicators such as moving averages, Bollinger Bands, Donchian Channels and volume to confirm a breakout. Look for confirmation through high volume, price and time when the price breaks above the resistance level.
Enter a long position at the breakout point, and set a stop loss to mitigate potential losses. Alternatively, you can wait for a pullback to a support level, and enter a long position there.
Consider the triangle's height for setting a profit target, or use trailing stop-loss orders to ride the trend for as long as possible. This strategy offers an approach that takes advantage of potential upward movements in BTC's price.
Trade BTC on Bybit spot here and on futures here.
Optimal BTC Investing Strategy: Dollar-Cost Averaging
If you're not a trader and prefer to hold Bitcoin over a mid to long-term duration, dollar-cost averaging (DCA) becomes a viable trading strategy. This method involves purchasing a fixed amount of Bitcoin at regular intervals, regardless of price fluctuations. The goal is to minimize the impact of volatility, and spread out the cost of entry over time.
DCA is a straightforward and effective approach to accumulating Bitcoin, obviating the need to time the market. It also helps investors steer clear of emotional decisions that could be driven by fear or greed.
How to Execute this BTC Strategy on Bybit
Start by depositing USDT, USDC or other supported fiat currencies into your Funding account. Head to Bybit Auto-Invest. Auto-Invest is a feature that lets users grow their holdings through regular, scheduled purchases of cryptocurrencies.
Select Bitcoin under the Receive dropdown and enter the amount of USDT, USDC or other fiat currencies that you would like to use under the Pay dropdown.
Select the Frequency (Daily, Weekly, Bi-Weekly, Monthly) and the day of the week you would like the order to be executed. Click Continue and the DCA plan is created. For more information, refer to this FAQ.
Purchasing BTC Through Bybit Discount Buy
Bybit Discount Buy lets you purchase BTC at a lower price than the market rate on the settlement date, provided it doesn't exceed a specific threshold known as the Knockout Price. Here's how to use it:
Log in to your Bybit account and go to the Finance tab on the navigation bar. Hover over Earn, and click on Discount Buy.
Choose a plan that suits your investment goals and risk appetite. You can select a plan based on the Coin, Purchase Price, Knockout Price and Knockout APR.
Input your investment amount and confirm your order by clicking on Buy Now. You cannot modify or cancel your order once it is placed.
Wait for the settlement date to view the outcome of your investment. You'll either buy BTC at a lower price than the market rate, or receive your principal plus an additional APR in USDT.
Conclusion: What's Next for Bitcoin?
Navigating Bitcoin trading post the $100K milestone requires careful consideration of several factors. Whether you're a trader or investor, you can tailor your strategies to each scenario. From capitalizing on technical trends to dollar-cost averaging, Bybit offers a range of tools to execute your trading plan effectively.
Remember that prudent risk management remains key in the volatile world of crypto trading.
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