2024

bullish

Bitcoin

<p>While everything seems to point towards a six-figure Bitcoin, it is not yet for tomorrow. The markets predict an imminent surge, but the realities of the market impose a final brake. Behind the scenes, the battle between ETFs and long-term investors is reshuffling the cards. The $100,000 mark remains the ultimate psychological challenge for the flagship crypto, with forecasts that ignite the imagination.</p>
<h2 id="h-bitcoin-a-dynamic-that-shakes-up-forecasts">Bitcoin: A dynamic that shakes up forecasts</h2>
<p>If 2023 has been an exceptional year, 2024 promises an even more spectacular rise in the <a href="https://www.cointribune.com/en/crypto-markets/bitcoin-btc-en/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin price</a>. According to <a href="https://kalshi.com/markets/kxbtcmaxy/how-high-will-bitcoin-get-this-year" target="_blank" rel="noopener noreferrer nofollow">Kalshi data</a>, <strong>BTC has an 85% chance of reaching $100,000 by the end of the year</strong>. And that’s not all: 9% of analysts even predict a Bitcoin flirting with $150,000, while a few optimists bet on a frenzy at $250,000.</p>
<div class="my-4">
 <div class="ads " data-page-type="" data-location="1">
 </div>
</div> 
<div class="tradingview-widget-container tradingview--mini-chart">
 <div class="tradingview-widget-container__widget"></div>
 <div class="tradingview--mini-chart--dark">
  <script type="text/javascript" src="https://s3.tradingview.com/external-embedding/embed-widget-mini-symbol-overview.js" async>{"symbol":"BINANCE:BTCUSD","width":350,"height":220,"isTransparent":false,"autosize":false,"dateRange":"12M","trendLineColor":"rgba(253,64,19,1)","underLineColor":"rgba(253,64,19,0.6)","underLineBottomColor":"rgba(253,64,19,0)","locale":"en","largeChartUrl":false,"colorTheme":"dark"}</script>
 </div>
 <div class="tradingview--mini-chart--light">
  <script type="text/javascript" src="https://s3.tradingview.com/external-embedding/embed-widget-mini-symbol-overview.js" async>{"symbol":"BINANCE:BTCUSD","width":350,"height":220,"isTransparent":false,"autosize":false,"dateRange":"12M","trendLineColor":"rgba(253,64,19,1)","underLineColor":"rgba(253,64,19,0.6)","underLineBottomColor":"rgba(253,64,19,0)","locale":"en","largeChartUrl":false,"colorTheme":"light"}</script>
 </div>
 <div class="tradingview-widget-copyright"><a href="https://fr.tradingview.com/symbols/BTCUSD/?exchange=BINANCE" rel="noopener noreferrer nofollow" target="_blank"><span class="text-primary-color">BTCUSD chart</span></a> by TradingView
 </div>
</div> 
<p>Why this enthusiasm? The explanation lies in the convergence of several signals:</p>
<ul>
 <li><strong>An increase of 55% in the last quarter of 2023;</strong></li>
 <li><strong>A market capitalization potentially at $2.5 trillion;</strong></li>
 <li><strong>A massive absorption of selling pressures by ETFs (90%, according to Glassnode).</strong></li>
</ul>
<p>As summarized by the Kobeissi Letter, “<em>the markets are already pricing in an explosion towards $100,000</em>,” and the current figures verge on the irrational. But this euphoria rests on a fragile balance: <strong>old HODLers, attracted by monstrous profits, could slow progress with massive sales</strong>.</p>
<figure class="wp-block-embed aligncenter is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
  <div class="entry-content-asset">
   <div class="social-embed-container">
    <blockquote class="twitter-tweet" data-width="500" data-dnt="true">
     <p lang="en" dir="ltr">This is WILD:<br><br>Prediction markets are now beginning to price-in a chance of <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Bitcoin</a> hitting $150,000 this year.<br><br>There is currently a rising 13% chance of Bitcoin hitting $150,000 by December 31st, according to <a href="https://twitter.com/Kalshi?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@Kalshi</a>.<br><br>Meanwhile, odds of Bitcoin hitting $100,000 this year are… <a href="https://t.co/8brFHgKpx2" rel="noopener noreferrer nofollow">pic.twitter.com/8brFHgKpx2</a></p>— The Kobeissi Letter (@KobeissiLetter) <a href="https://twitter.com/KobeissiLetter/status/1860059691939717128?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">November 22, 2024</a>
    </blockquote>
    <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
   </div>
  </div>
 </div>
</figure>
<h2 id="h-crypto-investors-between-hope-and-temptation-to-take-profits">Crypto investors: Between hope and temptation to take profits</h2>
<p><strong>The <a href="https://www.cointribune.com/quel-est-le-meilleur-etf-bitcoin/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin ETFs</a> are at the center of the game</strong>, attracting record volumes. Data shows a historic week with inflows exceeding $100 billion in assets under management. However, <strong>this is not enough</strong> to calm the ardor of old investors, ready to cash in after years of waiting.</p>
<p>Glassnode observes that <strong>unrealized gains are reaching critical peaks</strong>, and a correction would even be healthy to stabilize the market. However, another factor comes into play: <strong>fierce competition between institutions and individuals</strong>. The latter, galvanized by opportunities, fear massive profit-taking that could crush the current momentum.</p>
<div class="affiliate-button"><a class="affiliate-button__link" href="https://bitvavo.com/fr/affiliate/coinmedia?a=_cta" target="_blank" rel="noopener noreferrer nofollow">€20 bonus for registering on Bitvavo</a>
</div>
<p>“<em>History often repeats itself, but never in the same way</em>,” experts say. The bullish momentum remains the strongest in a long time, but avoiding overheating will be necessary to <a href="https://www.cointribune.com/en/bitcoin-all-signals-are-green-for-a-historic-bull-run-in-2025/" target="_blank" rel="noopener noreferrer nofollow">see 2025 crown a historic bull run</a>.</p>

Why Is Everyone Betting On A Six-figure Bitcoin?

Table of Contents

Cointribune EN

Other articles published on Nov 24, 2024

RSI and Support Levels Signal $0.85, Is Dogecoin Ready for a Major Breakout?

Is Stellar (XLM) Price About to Skyrocket? Analyst Predicts a Massive Bull Run!

Ethereum and These 2 Altcoins Could Spike Higher Soon

Bitcoin Drives Anticipation for Altcoin Surge

$HMSTR and $DOGS Approach Key Breakout Levels: What To Expect Ahead?

Bitcoin Surges While Altcoins Experience Gains

Join our free newsletter for daily crypto updates!