When will Bitcoin hit the $100,000 mark?

After experiencing a relatively dull second quarter, Bitcoin showed strong upward momentum at the beginning of the third quarter, breaking through the important mark of $70,000 in one fell swoop. This breakthrough rally has attracted widespread attention in the market, and many analysts and investors have begun to expect that Bitcoin may be entering a long-term bull market cycle. Especially as expectations for interest rate cuts in the U.S. market increase, this macroeconomic factor is expected to provide strong support for Bitcoin's price rise. Therefore, 2024 is regarded by many market participants as a potential bull market year for Bitcoin, with its price expected to hit a high of $100,000 around September.

Behind this optimistic prediction is the support of Bitcoin’s historical price pattern. Past experience shows that after Bitcoin experiences a halving event, its price can often gain significant bullish momentum. This time, the market generally believes that the fourth Bitcoin halving will be an important catalyst that drives its price to new highs.

Well-known cryptocurrency analyst Kyle Chassé is also optimistic about the future trend of Bitcoin. He believes that the current market environment is at the midway stage of the bull market cycle and boldly predicted that Bitcoin will reach the milestone price of $100,000 in September 2024. Chassé pointed out that the achievement of this price will mark Bitcoin’s entry into a new “major price discovery area”, indicating that its price may achieve a larger increase.

In addition to the price trend of Bitcoin itself, the potential approval of the spot Ethereum ETF is also one of the focuses of market attention. Chassé expressed high expectations for this, and he believed that the implementation of this important event will have a profound impact on the entire cryptocurrency market. The launch of Ethereum ETF is expected to attract more institutional funds and investors to the market, thereby further increasing the prices of mainstream cryptocurrencies such as Ethereum and Bitcoin.

Although there is no shortage of radical predictions in the market that the price of Bitcoin may soar to US$150,000 or even US$1 million, a more conservative view is that Bitcoin is expected to reach a price of US$100,000 in September. Achieving this goal will require Bitcoin to successfully break above the key overhead trendline and sustain its bullish momentum.#BTC☀ #ETH🔥🔥🔥🔥 #美联储何时降息？