Will Bitcoin Reach $100,000 by Year-End? Expert Analysts Divided, One Explains the Obstacles Facing BTC!

Speaking to CoinDesk, Bitwise Research Director Ryan Rasmussen stated that Bitcoin could end the year at higher levels, potentially above $100,000.

Rasmussen cited purchases through ETFs and companies, a shift towards alternative assets in the face of rising public debt, and reduced regulatory uncertainty in the cryptocurrency market as key factors supporting the rise.

However, the analyst added that market volatility could occur ahead of a potential Fed interest rate hike and the US midterm elections.

There Are More Cautious Predictions Too!

Cryptocurrency company LO:TECH, however, takes a more cautious view. LO analyst Adam Morgan McCarthy states that he expects Bitcoin to trade between $85,000 and $95,000 by the end of the year.

McCarthy stated that the 0.6% monthly increase in US consumer prices in September and the 0.3% rise in core inflation increased uncertainty regarding interest rate policy, and that markets were pricing in a probability of approximately 75% for an additional rate hike in December following the Fed’s September increase, indicating continued pressure on monetary policy.

At this point, according to McCarthy, for the $100,000 level to be surpassed, inflation and oil prices need to decline, and expectations of interest rate increases need to give way to a more cautious policy.

Corporate Funding Inflows Will Be Decisive!

Finally, CoinShares Research Director James Butterfill noted that despite $11.1 billion in inflows into cryptocurrency investment products since mid-July, purchases have slowed. According to Butterfill, institutional investors need to continue injecting capital for a sustained rise.

*This is not investment advice.