Bitcoin (BTC) could end the year with a value of $125,000 or more, according to market predictions, as optimists continue to make six-figure levels a reality.
Data from the betting platform Kalshi suggests an 85% chance of reaching a price of $100,000 for each BTC before the end of 2024.
BTC price faces a 'frenzied' forecast of $127,000.
Bitcoin may not have reached $100,000 yet, but consensus says it's just a matter of 'when,' not 'if.'
According to live data from Kalshi, the chance of BTC/USD reaching $100,000 or higher by December 31 is currently at 85%.
There is even a 9% chance that this couple will exceed the $150,000 mark during that time, along with an outside bet of up to $250,000 or more.
Overall, Kalshi's average forecast sees a price of $125,000 for each BTC becoming a reality as we enter the new year.
"It seems that the predictive markets are starting to price in the potential for a breakout above $100,000," trading source The Kobeissi Letter responded on X, calling these figures 'frenzied.'
See more: The Texas gold coin boosts Bitcoin, according to a lawyer.
Kobeissi notes that the market value of Bitcoin could reach $2.5 trillion by January 1.
The likelihood of Bitcoin's price on November 23 (screenshot). Source: Kalshi
Bitcoin ETF fund struggles with profit-takers.
Bitcoin has risen nearly 40% in November and 55% in Q4, making this year nearly profitable compared to the last quarter of 2023, according to data from monitoring source CoinGlass.
The strong price increase of BTC has hardly seen any consolidation or retest of support since Bitcoin surpassed the old all-time high set in March.
Although some argue that there should be a correction to solidify future bullish potential, the market has yet to show signs of slowing down.
$100,000 remains the most important psychological threshold for Bitcoin.
As reported by TinTucBitcoin, the massive influx from institutional investors is competing with long-term holders distributing funds they have held for years.
"ETF funds have played a crucial role, absorbing over 90% of the selling pressure from long-term holders," on-chain analysis firm Glassnode wrote in its latest weekly newsletter, 'The Week Onchain.'
"However, as unrealized profits reach extreme levels, we can expect more spending from long-term holders, which in the short term has surpassed inflows into ETFs."
The net capital flow of US Bitcoin ETF (screenshot). Source: Farside Investors.
ETF funds in the US have seen the most successful capital inflow since their launch in the five trading days leading up to November 22. Total assets under management have now surpassed $100 billion.
Follow me @TinTucBitcoin #tintucbitcoin #Write2Win #btc #binance #binance
