Analysts’ forecasts come shortly after Bitcoin recorded its best weekly return since the U.S. banking crisis in 2023.
The long-awaited $100,000 milestone for Bitcoin may be reached as early as November. Analysts believe this goal is achievable, citing historical price trends and increased investor interest following the recent presidential election.
Bitcoin surpassed the $90,000 level on November 13, just a week after Donald Trump won the 2024 U.S. presidential election.
Ryan Lee, Chief Analyst at Bitget Research, noted that Bitcoin’s year-over-year growth of over 100% has outperformed most traditional financial assets.
November – Traditionally the Strongest Month for Bitcoin
November has historically been the most profitable month for Bitcoin, and Lee suggests BTC could reach the $100,000 mark by the end of the month.
“If history repeats and Bitcoin prices rise as expected, a 14.7% increase from the current level would push Bitcoin well above the $100,000 monthly target. The post-halving cycle trend is also very favorable for Bitcoin’s future outlook.”
These projections come as Bitcoin recently achieved its best weekly return since March 2023, when the U.S. banking crisis emerged, and it has now surpassed the $90,000 level, setting new records.
Bitcoin Expected to Surpass $100,000 in a Few Months – Bitfinex Analysts
Other analysts are similarly optimistic about Bitcoin’s price trajectory as we move toward 2025.
Analysts at Bitfinex believe Trump’s victory could stimulate cryptocurrency adoption in the U.S., potentially pushing Bitcoin above $100,000 within a few months.
“Predicting an exact price is challenging, but we expect Bitcoin’s downside to be limited, thanks to the bullish momentum and the fact that we avoided a recession that once seemed very likely. We foresee some sideways movement and accumulation for Bitcoin, and in our view, a $100,000 target in a few months doesn’t seem out of reach.”
Alongside the Trump presidency, other key drivers for Bitcoin include anticipated interest rate cuts in the U.S. and the reduced Bitcoin issuance following the 2024 halving.
Need to Reduce Leverage Before Reaching $100,000
Despite the optimistic predictions, the crypto market might need to reduce leverage before Bitcoin can reach the $100,000 level.
Current leverage ratios—the amount of borrowed funds used in trading positions—are approaching unsustainable levels, warned Kris Marszalek, co-founder and CEO of Crypto.com.
Marszalek posted on X on November 12:
“We need to reduce financial leverage before pushing for $100,000. Carefully manage your risk.”
According to data from CryptoQuant, the estimated leverage ratio for Bitcoin across crypto exchanges stood at 0.215, a level last seen in October 2023.
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