Bitcoin Price Expected to Reach $100,000 Within Weeks
Bitcoin reached $90,000 early Friday. Thursday's pullback was expected, according to Galaxy's Alex Thorn, who stated that consolidation below the new $93,000 all-time high is healthy. This process clears out recent leverage and establishes a more stable foundation for further gains. A price of $100,000 by year-end is plausible, potentially occurring within weeks.
Bitcoin briefly set new price records before a slight decline, raising the question: When will it reach $100,000? Conversations indicate that Thorn's year-end forecast is widely accepted.
Brian Rudick, managing director of research at GSR, noted that new demand will take time to develop over the coming months. Concerns about holders selling when Bitcoin reaches six figures were addressed by Rudick, who believes that the potential for a US strategic bitcoin reserve could reduce selling pressure. He explained that while some may have considered selling at $95,000, the prospect of Bitcoin reaching $500,000 makes it harder to justify selling at lower prices.
Thorn mentioned that emerging catalysts, particularly from the Trump transition team, could sustain momentum and push Bitcoin beyond this psychological barrier, prompting speculation about the possibility of hitting $500,000.