$BTC 100,000

Bitcoin was just USD 200 away from reaching the all-time high of USD 100,000 on November 22, when it surpassed the high of USD 99,800, leading analysts to predict that Bitcoin will exceed USD 100,000 in the next two months.

However, it is not certain that Bitcoin can surpass the six-figure mark before the end of 2024, despite the optimistic long-term outlook, according to Szymon Sypniewicz, co-founder and CEO of Ramp Network.

He told Cointelegraph:

"While reaching USD 110,000 for Bitcoin seems inevitable at some point, it is uncertain whether it will happen before the end of the year, as we can expect the market to experience some ups and downs along the way."

Another catalyst for Bitcoin is the increasing global money supply, which is expected to rise by more than USD 20 trillion by January 2026.

BTC projection to USD 132,000 due to the growth of the M2 money supply. Source: Jamie Coutts

According to historical analysis, this could attract an additional investment of USD 2 trillion into Bitcoin, which has so far captured around 10% of the new printed money supply.

According to Jamie Coutts, chief cryptocurrency analyst at Real Vision, the increase in money supply could set Bitcoin up for a possible cyclical peak above USD 132,000.