Bitcoin (BTC) Price Prediction: Will the Pioneer Crypto Asset Finally Reach the $100K Level?

Bitcoin has been setting new records regularly as investors hope that Trump will bring about a golden age of cryptocurrency

Bitcoin price surged to a new all-time high on Friday morning, coming within spitting distance of the $100,000 level as a recent rally showed no signs of slowing down.

The world’s largest cryptocurrency was trading at $98,833 at press time, up nearly 3 percent over the past 24 hours. BTC has now gained more than 120 percent year-to-date.

A recent surge in funding rates and open interest on the futures market preceded the latest leg of the rally, putting the pioneer crypto asset within the $100,000 level.

As Santiment data revealed that Bitcoin was poised to reach a six-figure market value for the first time in history, social media speculation exploded, with the asset now standing at a new all-time high of $99,000.

Together, X, Reddit, Telegram, 4Chan, and BitcoinTalk were bringing up the $100K BTC price level at the fastest rate ever (naturally).

The campaign cost cryptocurrency companies like Coinbase more than $130 million. Trump’s term also suggests higher budget deficits, possibly higher inflation, and adjustments to the dollar’s global role—all of which would boost the price of Bitcoin.

Bitcoin reaching $100,000 in the next few minutes appears more like a short-term end-of-rally goal than a turning point that would instantly push the asset to a much higher level.

While it’s impossible to tell for sure whether the digital asset will remain above the $100,000 level for long, we can assume that a correction towards the $75,000/$80,000 range would be reasonable, especially in a market environment where the dollar has strengthened (+7 percent for the Dollar Index since the beginning of October), and headline interest rates have experienced a powerful rise (more than 90 basis points in two months).

A price correction in that direction is likely in play. A stronger “pullback” might also push prices back toward the previous high of roughly $74,000 in March 2024.

However, historical data has shown that Bitcoin is popularly known for disappointing skeptics and maintaining its bullish momentum.