Bitcoin has surged in price since Donald Trump was elected as the next president of the United States, surging nearly 30% and hitting a new record high above $90,000 in just a week.

Now, analysts are looking at how high or low Bitcoin could go by the end of the year and have shared their price predictions with Cointelegraph.

Lennix Lai — OKX: Crossing $100,000

Lennix Lai, global head of trading at cryptocurrency exchange OKX, predicts Bitcoin will hit “over $100,000” on the last trading day of 2024.

“We are seeing signals of a potential paradigm shift into the next bull phase for crypto, which I think could push BTC past 100K before year-end,” Lai said.

At the time of writing, Bitcoin is trading above $90,000, up nearly 30% on the week, according to data from TradingView.

BTC 1-hour price chart | Source: TradingView

However, Lai cautioned that the market has already priced in some positive factors – namely the election results and the rise in traditional stock markets – and much of Bitcoin’s recent surge may stem from short-term euphoria.

“It is important to remember that there are many macroeconomic uncertainties,” he added. “The post-election landscape could include sharp cuts in government spending and tax reform that could shock markets. I believe these factors could exacerbate inflation — potentially slowing the pace of Fed rate cuts.”

These factors, along with geopolitical risks including tensions in the Middle East and the US stance on ongoing conflicts, could add complexity to the market outlook and contribute to short-term volatility, he said.

Tony Sycamore – IG Markets: Low to Mid $90,000 Range

IG Markets analyst Tony Sycamore said he expects Bitcoin to end the year somewhere in the “low to mid-$90,000s.” He said much of the “good news” following Trump’s election was already priced in when BTC surged above $90,000 on November 11.

“The other reason is that it might be time for some altcoins to start catching up,” he added.

“Ethereum, for example, is trading 20% ​​below its yearly high, so I suspect that the move from Bitcoin to altcoins will be a theme we see play out as the year ends.”

Josh Gilbert - eToro: $100,000

eToro market analyst Josh Gilbert says Bitcoin’s recent record-breaking rally is not over yet and predicts BTC will hit a new six-figure high of $100,000 by the end of the year.

In line with several other analysts, Gilbert cited Trump’s victory, lower interest rates, a strong US economy, and growing institutional interest that drove record inflows into Bitcoin ETFs last week as key factors for future growth. “This rally has yet to demonstrate the level of retail ‘excitement’ that we have seen in previous cycles,” Gilbert said.

Despite the overall bullish sentiment, Gilbert warned that there is a high chance that BTC will “take a breather” in the coming weeks but admitted that the overall trend is too strong to be ignored.

“The rally in this asset over the past two weeks has been like a freight train — something big is needed to slow it down.”

Ki Young Ju — CryptoQuant: $58.000

CryptoQuant CEO Ki Young Ju offers a more pessimistic outlook on Bitcoin's price action in the coming months.

In a post on X on November 9, Ki said he expects Bitcoin to end the year at $58,974, citing overheated derivatives activity as the reason for an upcoming correction.

“I expected a correction when the BTC futures market indicators were too hot, but we are entering the price discovery phase, and the market is heating up even more,” Ki said. “If a correction and consolidation occurs, the rally could last; however, a strong rally at the end of the year could set the stage for a bear market in 2025.”

Bitcoin is currently showing a record $55 billion in open interest, a measure of the number of active open positions on Bitcoin derivatives like futures and options, according to data from CoinGlass.

Bitcoin open interest is at record levels. Source: CoinGlass

Paval Hundal — SwyftX: $103,000

Pav Hundal, chief market analyst at SwyftX, said that while it is difficult to give an exact target for the end of the year, he predicts BTC will end 2024 at a price above $100,000.

“If we apply a popular Fibonacci tool to the highs and lows of the previous cycle, it would indicate a level of $103,000 by year-end,” he said.

Guy Armoni — HDI Fund: About $100,000

Guy Armoni, managing partner at HDI Fund, said that Bitcoin has not yet reached its peak value for this cycle and expects Bitcoin to trade higher, based on the continuation of the current trend.

Armoni points to the growing acceptance of cryptocurrencies worldwide and a more friendly policy environment for crypto assets and companies in the United States as key drivers for Bitcoin's price by year-end and continuing into 2025. “If this trend continues, not only will we see Bitcoin at $100,000 this year, but I predict the bull market will last into 2025, with Bitcoin possibly reaching $250,000,” Armoni said.

Mati Greenspan — Quantum Economics: Higher

Mati Greenspan, founder and CEO of Quantum Economics, said that Bitcoin has “ignored” extremely bullish fundamentals and has been consolidating rather than climbing for most of this year, predicting that the asset’s outperformance will continue into late 2024.

Contrary to popular belief that this bull run could end in a few months, Greenspan said he expects the cryptocurrency's uptrend to be “long-lasting.”

“The stock market has been known for decades-long bull runs. People are acting like it’s all going to be over in a month and they need to eat as much as they can while the food is on the table or there will be little left,” he said.

Ben Simpson — Collective Shift: $100.000

Collective Shift CEO Ben Simpson said that while short-term corrections are possible, he predicts Bitcoin will end the year at $100,000.

“With the Trump election, falling interest rates, the possibility of future quantitative easing, and days of billions of dollars in Bitcoin ETF volume, more and more people are getting involved,” he said.

“When you have an asset with a limited supply like Bitcoin and demand is increasing, the market only has one direction to go.”

Tom Wan — Independent Analyst: $80,000 – $95,000

“I believe Bitcoin will cross $95,000 – $100,000 before the end of 2024. However, it should be noted that $100K is a key psychological zone, and we could see a significant sell wall near that range,” said independent analyst Tom Wan.

Wan said investors are currently pricing in expected pro-crypto regulations from the Trump administration and inflows into spot Bitcoin ETFs but also pointed to record open interest on Bitcoin as a potential short-term hurdle.

Like many other analysts in the crypto industry, Wan is bullish on prices in the long term.

“With expectations of crypto-friendly regulations, I believe we will see more institutional investors such as pension funds, registered investment advisors, state governments, and public companies start allocating to crypto, which could push BTC past important price levels,” Wan added.

Summary

Overall, the consensus among analysts is that Bitcoin will end the year at or around the $100,000 mark. Despite the overall bullish sentiment, most analysts warn of high volatility and significant corrections for Bitcoin in the coming months.

Source: https://tapchibitcoin.io/bitcoin-co-vuot-100k-9-nha-phan-tich-chia-se-du-doan-gia-btc-cuoi-nam.html