The probability of BTC price reaching $100,000 by the end of 2024 increases
By the end of 2024, Bitcoin’s valuation could reach six figures.
Renowned cryptocurrency analyst Michaël van de Poppe observed in a recent X post that the price of Bitcoin could rise by more than 54% from current levels, reaching as high as $100,000. Van de Poppe believes that U.S. interest rate cuts and subsequent Chinese stimulus packages are bullish catalysts for BTC and other cryptocurrencies. This cycle may further strengthen Bitcoin’s appeal as a hedge against governments’ ruthless money-printing policies.
He also noted that Bitcoin’s traditional safe-haven rivals, gold and silver, have underperformed recently, suggesting that a major surge in BTC is coming. Given historical precedent, Bitcoin should eventually follow the precious metal higher.
“Gold continues to move higher, while silver has reached its highest price levels in a decade. Global liquidity is increasing significantly, and altcoins are just getting started,” the cryptocurrency trader wrote. “We may see Bitcoin trading between $90,000 and $100,000 before the end of the year.”
Bitcoin is currently looking to flip the resistance zone at $65,000. If $65,000 can be converted into support, Bitcoin may be on its way to a new life cycle peak.
