CryptoQuant CEO Ki Young Ju expects Bitcoin to decline to $58k by year-end; however, the managing partner at HDI Fund, Guy Armoni, thinks the asset would breach the $100k resistance level and continue to reach $250k. Seven out of nine expert predictions on Bitcoin estimate a run above $100k by December 31.
Bitcoin’s (BTC) explosive run to reach a new all-time high at $93k has been met with divided opinions among analysts.
Recently, we reported that the CEO of CryptoQuant expects a significant level of profit to take around this price range since about 100% of investors are in profits. Meanwhile, others, including Alan Santana, expect a bullish continuation to $155k. In this article, we will explore nine expert opinions on the price of Bitcoin.
Tony Sycamore
According to IG Markets Tony Sycamore, a significant level of excitement and hype surrounding Trump’s re-election has already been priced into the current value of Bitcoin. In addition to that, a huge amount of money is on the verge of flowing from Bitcoin into altcoins. With this, Sycamore pointed out that Ethereum (ETH), which is the biggest altcoin in the market, is still 20% down from its all-time high. For this reason, he expects Bitcoin to hit the mid-90,000 region by December 31.
Lennix Lai
Lennix Lai is the global chief commercial officer of the crypto exchange OKX. According to him, Bitcoin would reach over $100k by the end of the year. However, he cautioned that the market has already priced in multiple bullish catalysts. This implies that the asset could marginally pull back in the short term. Throwing more light on this, Lennox Lai explained that geopolitical risks coupled with post-election landscapes such as government spending cuts and tariff reforms may add complexity to the market and contribute to short-term volatility.
Ki Young Ju
CryptoQuant CEO Ki Young Ju believes that Bitcoin could significantly pull back and finish the year at $58,974. His reason is that the market is overheating. According to him, a successful pullback would extend the bull market to 2025. However, a strong year-end rally could set up for a bearish run next year.
Josh Gilbert
For the market analyst Josh Gilbert of eToro, Bitcoin still has the “power” to continue its “ride” to $100k by year-end. His reason is bordered around Trump’s victory, the robust US economy, cooling interest rates, and growing institutional demand. However, he cautioned that there could be a marginal correction in the next few weeks.
Pav Hundal
According to SwyftX lead market analyst Pav Hundal, Bitcoin could wrap up the year around just over $100k. Per his analysis, applying a common Fibonacci extension to the peak and low of the previous cycle implies that the asset could be $103,000 by the end of the year.
Matti Greenspan
Mati Greenspan, the founder and CEO of Quantum Economics, believes that Bitcoin’s fundamentals paint an extremely bullish picture, hinting that the asset could extend its outperformance for the rest of the year.
Bitcoin just hit another all-time high.
Are you tired of winning yet?!— Mati Greenspan (@MatiGreenspan) November 11, 2024
He also pointed out that this bull would continue for a “long time”, referencing the stock bull runs that are known to have been building over the course of a decade.
People out there are acting like this will all be over in a month, and they need to eat as much as they can while the food’s on the table, or they’ll be left with scraps.
Ben Simpson
Collective Shift CEO Ben Simpson expects Bitcoin to hit $100k by the close of 2024. According to him, potential quantitative easing, interest rate cuts, and Trump’s re-election could be the main catalyst coupled with the consistent days of “billion dollars Bitcoin ETF volume.” However, he admitted that pullbacks and corrections are likely.
Tom Wan
According to Tom Wan, an independent analyst, Bitcoin would break out of the upper level of the $95,000-100,000 range by year-end. However, he strongly believes that $100k would be a crucial psychological zone where buyers and sellers could battle for dominance. Meanwhile, he expects more institutional investors like pensions, RIAs, state governments, and public companies to enter the market.
Guy Armoni
The managing partner at HDI Fund, Guy Armoni, believes that Bitcoin has not yet hit its peak value for the cycle. Per his observation, the asset could break the $100k level this year and continue to hit $250,000 in 2025.
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