November Bitcoin Surge: Why Analysts Expect the Cryptocurrency to Reach $100K Soon?
Based on past chart trends and increasing investor demand since the elections, analysts estimate that Bitcoin may reach its much-anticipated $100,000 all-time high in November. On November 13, just over a week after Donald Trump won the 2024 U.S. presidential election, Bitcoin broke beyond the $90,000 mark.
Ryan Lee, principal analyst of Bitget Research, claims that the over 100% year-to-date rise in Bitcoin has outperformed the majority of conventional financial assets. According to Lee, November is traditionally the best month for Bitcoin returns, and before the month is out, the cryptocurrency might reach $100,000.
If history repeats itself and Bitcoin prices grow as projected, a 14.7% from the current price level will push the coin well above the $100,000 target for the month. The post-halving cycle trend is also very positive when projecting the future of Bitcoin.
Lee
With November Gains Topping 20%, Bitcoin Sets Sights on $100K by 2025, Say Experts
According to CoinGlass data, Bitcoin is already up more than 20% for November, when it has historically recorded monthly gains of more than 44%. Following the world’s first cryptocurrency to surpass $90,000 and set new records, Bitcoin demonstrated the biggest weekly return since the March 2023 US banking crisis, which prompted the analyst’s projections.
The price trajectory of Bitcoin until 2025 has other analysts optimistic as well. Bitcoin is expected to break above $100,000 in the coming months, according to Bitfinex analysts, who predict that Trump’s election will encourage cryptocurrency adoption in the largest economy in the world.
Predicting the price is a difficult bet, but we expect Bitcoin to have limited downside now given the bullish impetus, plus the fact that we avoided a recession, which at one point looked highly plausible. We expect Bitcoin to range and accumulate a bit, and in our view, a target of $100,000 in a few months doesn’t seem too far-fetched.
Bitfinex analysts
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