Bitcoin, the leading cryptocurrency, is on track to potentially reach a monumental milestone by the end of the year. According to data, there is a 50% chance that Bitcoin could hit an all-time high of $100,000 before 2025 arrives. This would be a continuation of a legendary bull run that has seen the asset approach this landmark price earlier in the week.
The year 2024 has been a historic one for the cryptocurrency industry, with Bitcoin leading the way as the token that has lifted all boats in the rising tide of the market. November, in particular, has been a game-changing month for Bitcoin, with the digital asset increasing by more than 39% in the last 30 days, as reported by CoinMarketCap.
Despite a recent correction that saw Bitcoin fall below $95,000, options data still indicates a strong possibility of the cryptocurrency reaching $100,000 by the end of the year. Nearly half of BTC options traders have placed their bets on this landmark price point being achieved before the new year.
Nick Forster, the founder of a DeFi protocol, noted that the likelihood of Bitcoin exceeding $100,000 has risen to 45% from 34% the previous week, with a new 4% probability of surpassing $150,000. This optimism is fueled by the expectation of a surge in the coming year, regardless of how Bitcoin ends in December.
Looking ahead to 2025, analysts are predicting that it could be “the mother of all bull markets” for Bitcoin. Alex Svanevik, CEO of Nansen AI, has forecasted that 2025 will see the biggest crypto bull market ever, with the Bitcoin ecosystem continuing to flourish. He also anticipates extensive investment flooding into the asset class, with discussions of strategic Bitcoin reserves being developed in various countries, including the United States.
US Senator Cynthia Lummis has even suggested that former President Trump could approve a BTC reserve plan within his first 100 days back in office. With such high expectations and optimism surrounding Bitcoin’s future, it will be interesting to see how the cryptocurrency performs in the remaining weeks of 2024 and what lies ahead in the new year.