According to Cointelegraph: Following a 30% weekly rally driven by Donald Trumpā€™s election victory, Bitcoin has hit new highs, nearing $90,000. This remarkable surge has analysts setting ambitious year-end targets, with many forecasting a historic milestone of $100,000 or beyond.

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Key Analystsā€™ Predictions for Bitcoin by Year-End

Lennix Lai, OKX: Target: Beyond $100,000 Lennix Lai, OKXā€™s Global Chief Commercial Officer, predicts Bitcoin will surpass $100,000 by the end of 2024. He points to potential ā€œparadigm shiftsā€ fueling cryptoā€™s growth but warns of macroeconomic risks, including potential inflation and geopolitical tensions.

Tony Sycamore, IG Markets: Target: Low-to-mid $90,000s IG Marketsā€™ Tony Sycamore sees Bitcoin landing in the low-to-mid $90,000s, suggesting the recent rally has priced in the positive post-election sentiment. Sycamore anticipates that altcoins like Ethereum may start to catch up as the year progresses.

Josh Gilbert, eToro: Target: $100,000 Josh Gilbert from eToro believes the rally is far from over, predicting Bitcoin to hit $100,000 by year-end, driven by strong institutional interest and cooling interest rates. However, he notes that Bitcoin might experience a pause after recent rapid gains.

Ki Young Ju, CryptoQuant: Target: $58,000 Contrasting the bullish consensus, CryptoQuant CEO Ki Young Ju expects Bitcoin to close at around $58,000, citing overheating in derivatives markets. He predicts potential corrections and cautions that a year-end rally could set up for a 2025 bear market.

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Pav Hundal, SwyftX: Target: $103,000 SwyftXā€™s Pav Hundal suggests a Fibonacci extension analysis points to a $103,000 target. He remains bullish, projecting Bitcoin to close out 2024 above $100,000.

Guy Armoni, HDI Fund: Target: Around $100,000 Guy Armoni from HDI Fund expects continued crypto adoption to propel Bitcoin to $100,000, potentially extending the bull market into 2025. Armoni even suggests BTC could reach $250,000 if momentum persists.

Mati Greenspan, Quantum Economics: Outlook: Long-term Bullish* Quantum Economics founder Mati Greenspan views Bitcoinā€™s growth as part of a long-term bull cycle, potentially lasting years. He expects the assetā€™s upward trajectory to extend beyond 2024, fueled by continued demand.

Ben Simpson, Collective Shift: Target: $100,000 Ben Simpson, CEO of Collective Shift, sees Bitcoin reaching $100,000 by year-end, citing Trumpā€™s victory, lower interest rates, and high Bitcoin ETF volumes as key factors driving demand.

Tom Wan, Independent Analyst: Target: $80,000ā€“$95,000 Independent analyst Tom Wan forecasts Bitcoin could reach $95,000 but sees the $100,000 level as a psychological resistance point. Wan anticipates increasing institutional demand as pro-crypto regulation comes into play under Trumpā€™s administration.

TL;DR: Bullish Outlook, but Expect Volatility

Overall, most analysts predict Bitcoin will trade near or above $100,000 by the end of 2024, though many warn of potential volatility and corrections along the way. With macroeconomic factors, institutional demand, and regulatory shifts all in play, Bitcoinā€™s year-end trajectory is one to watch closely.