Bitcoin is expected to move higher in September, but traders are less confident about breaking the $100,000 level before the end of the year.

Bitcoin investors predict that the price will show an upward movement in September. However, there are uncertainties about whether Bitcoin will reach the long-awaited $100,000 level by the end of 2024.

“Bitcoin is still on track to rise in September,” crypto influencer Rekt Capital commented to his 483,800 followers on July 30. Rekt stated that in the 100 days following the Bitcoin halving in April, Bitcoin could not break out of the reaccumulation range where buyers accumulated in anticipation of price movement.

According to CoinMarketCap data, on July 29, 100 days after April's halving, Bitcoin was trading at $66,343, up 2.11%. Currently, the Bitcoin price has fallen to $66,283.

Some traders think Bitcoin will surpass $100,000 in 2025, not 2024. Speaking to Cointelegraph, Daan Crypto Trades said, “I think the Bitcoin chart with the higher time frame looks quite positive.” Will Clemente, founder of crypto researcher Reflexivity Research, shared a similar view, commenting in his X post on July 30 that “Bitcoin's quarterly chart looks incredible.”

“Hitting $100,000 this year might be a little early, but I'm pretty sure we'll see it in 2025,” Daan Crypto Trades said due to the macroeconomic outlook. “Last cycle we peaked at $69,000. $100,000 would be just 1.5 times the previous all-time high. “Taking into account inflation, $100,000 is a reasonable target given current world and crypto market conditions,” he added.

In the short term, Daan Crypto Trades noted that it is eyeing the $70,000 to $74,000 range, which “has seen a lot of rejection over the past few months.” “If Bitcoin can break above this price range, I suspect we will see a rapid move,” he said.

Mati Greenspan, founder of Quantum Economics, told Cointelegraph that the chart shows a clear range between $55,000 and $73,000 and that this range has "continued since March." “We are currently testing the upper limits of that range,” Greenspan said.

Similar to the general crypto community, Greenspan believes that former US President Donald Trump's recent promises on Bitcoin will help the price break out of prolonged consolidation. “My prediction at the beginning of the year that this cycle would be driven by FOMO from political promises appears to be coming true,” Greenspan said.

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