Bitcoin is on track to hit six figures by the start of 2025, with prediction markets heavily favoring a $100,000 price milestone. Despite increasing sell-side pressure, bullish momentum remains strong.
Bitcoin Predictions Point to $125,000 by New Year
According to data from prediction platform Kalshi, there’s an 85% probability that Bitcoin will surpass $100,000 by December 31, 2024. The platform also forecasts a 9% chance of Bitcoin exceeding $150,000 and even suggests a slight possibility of hitting $250,000.
The median forecast places Bitcoin’s year-end price at $125,000, reflecting growing confidence among market participants. Commenting on the predictions, The Kobeissi Letter described the outlook as “wild,” noting that Bitcoin’s market cap could approach $2.5 trillion by January 1.
Bitcoin’s Stellar Q4 Performance
Bitcoin’s price has surged by nearly 40% in November alone and 55% throughout the fourth quarter so far. This performance positions 2024 as one of Bitcoin’s strongest years, nearly rivaling the growth seen in late 2023, according to CoinGlass data.
Challenges from Profit-Taking
While the outlook is overwhelmingly positive, Bitcoin continues to face challenges from increased profit-taking. This sell-side pressure has tempered some of the momentum but has not derailed the broader bullish sentiment.
Summary Review: Bitcoin is predicted to break the $100,000 mark by the end of 2024, with a median forecast of $125,000. Despite rising sell-off activity, strong fourth-quarter gains and investor optimism continue to drive Bitcoin toward new all-time highs.
Disclaimer: Nothing in this article, or any content from Web30 News, should be interpreted as financial advice. The information provided is for entertainment and educational purposes only. Investing in cryptocurrency involves risks, and investors should be aware that capital is at risk and returns are never guaranteed. Please conduct thorough research and consult with a qualified financial advisor before making any investment decision.
