Bitget Research: BTC will reach $ 100,000 by the end of November

Cryptocurrency analysts from Bitget Research predict that a new historical high of $ 100,000 BTC $91,003.48 Bitcoin -0.45% Market capitalization $1.8 trillion VOL. 24 hours $2.22 billion may be reached in November. This forecast is based on historical charts and growing investor demand after the US presidential election.

Ryan Lee, chief analyst at Bitget Research, claims that bitcoin’s growth of more than 100% since the beginning of the year has outperformed most traditional financial assets.

He added that November is known as the most successful month for bitcoin profitability.

«If history repeats itself and bitcoin prices rise as predicted, a 14.7% increase from the current price level would push the coin well beyond the $ 100,000 per month target. The post-halving cycle is also very positive for predicting the future of bitcoin,» he said.

It is worth adding that according to CoinGlass, bitcoin has already grown by more than 20% in November. However, historically, its average monthly return in November is over 44%.It is reported that analysts' forecasts came after the best weekly growth. Then the most popular cryptocurrency exceeded $ 90,000, setting new record highs.

Also, Bitfinex analysts believe that Trump’s victory will facilitate the introduction of cryptocurrencies in the world’s largest economy.

«Predicting the price is a difficult task, but we expect a limited decline for bitcoin, given the bullish momentum and the fact that we have avoided a recession that once looked very likely. We expect bitcoin to fluctuate and accumulate, and in our view, the $ 100,000 target in a few months does not seem unrealistic,» the forecast says.

The analysts emphasize that an important factor for bitcoin is the expectation of further interest rate cuts in the United States.

Also, a decrease in bitcoin issuance after the 2024 halving may have a significant impact on the value of the cryptocurrency.

Earlier, cryptocurrency experts from VanEck predict that bitcoin will grow to $ 180,000 next year.

By the way, cryptocurrency analyst and founder of BitMEX Arthur Hayes said that the policy of the next US President Donald Trump will lead to an increase in the price of bitcoin to $ 1 million. The same opinion was expressed by the famous cryptocurrency analyst Michael van de Poppe.