$BTC Bitcoin Traders Anticipate September Surge but Remain Skeptical About $100K Target in 2024

Bitcoin traders predict an upward trend in Bitcoin's price for September, but many are cautious about the cryptocurrency reaching the $100,000 milestone by the end of 2024.

Pseudonymous crypto trader Rekt Capital shared with their 483,800 followers on X (formerly Twitter) that Bitcoin remains on course for a potential breakout in September. However, they noted that Bitcoin's inability to break out of the reaccumulation range—where buyers consolidate in anticipation of a price increase—within 100 days of the April halving made such a move unlikely.

As of July 29, Bitcoin was trading at $66,343, just 2.11% higher than it was 100 days post-halving. By the time of publication, the price had dipped slightly to $66,283, according to CoinMarketCap data.

$100K Bitcoin More Likely in 2025

Many traders believe that Bitcoin is more likely to surpass the $100,000 mark in 2025 rather than in 2024. Pseudonymous trader Daan Crypto Trades told Cointelegraph that the higher timeframe Bitcoin chart looks promising, a sentiment echoed by Will Clemente, founder of the crypto research firm Reflexivity Research. Clemente remarked that the "Bitcoin quarterly chart is looking insane" in a post on X on July 30.

Daan Crypto Trades expressed confidence in seeing Bitcoin reach six figures by 2025, citing favorable macroeconomic factors as a driving force.