Bitcoin Crosses the $100,000 Mark Again, Analysts Double Down on Future

Bitcoin has crossed the $100,000 mark again. Ethereum followed with a 4% rise, though it remains shy of the critical $4,000 resistance level.

Bitcoin price analysis: BTC price stalls at $100K as crypto markets show mixed signals

Bitcoin (CRYPTO: BTC) price rose sharply on Friday morning, crossing the critical $100,000 mark once again. The world’s largest cryptocurrency is now reporting a 4% gain on the day.

Second-ranked crypto asset Ethereum also posted солидные gains. ETH rose by more than 4% over the past 24 hours, although it continues to hover below the critical $4,000 resistance level.

Crypto-linked stocks also showed resilience in the stock market on Friday. Coinbase shares rose by about 4%, while MicroStrategy shares surged 8%. For the week, however, bothплиты остаются в минусе.

The rally in crypto markets arrived ahead of the Federal Reserve’s December meeting.купцы now largely anticipate another interest rate cut from the U.S. central bank.

Bitcoin price rose sharply on Thursday as well,rallying to a fresh record high above $103,000 after key inflation data cleared the way for the world’s largest cryptocurrency to continue its stunning 2023 rally.

Bitcoin price analysis: BTC price stalls at $100K as crypto markets show mixed signals Bitcoin rose sharply on Friday morning, crossing the critical $100,000 mark once again.

World’s largest cryptocurrency is now reporting a 4% gain on the day.

Second-ranked crypto asset Ethereum also showed солидные gains. ETH rose by more than 4% over the past 24 hours, although it continues to hover below the critical $4,000 resistance level.

Crypto-linked stocks also showed resilience in the stock market on Friday. Coinbase shares rose by about 4%, while MicroStrategy shares surged 8%. For the week, however, bothплиты остаются в минусе.

The rally in crypto markets arrived ahead of the Federal Reserve’s December meeting.купцы now largely anticipate another interest rate cut from the U.S. central bank.

Bitcoin’s rise came in response to the November consumer price index report, which showed a modest 0.3% increase from October and a 2.7% jump year-over-year. This data matched forecasts, calming fears of higher-than-expected inflation.

Bitcoin didn’t really need the nudge, though. The decentralised digital currency is already up about 141% for the year. It began 2023 at less than $42,000.

Standard Chartered analyst Geoff Kendrick now predicts that Bitcoin could hit $200,000 by the end of 2025.

“This is not a moonshot. With continued institutional adoption and even modest growth in sovereign wealth fund interest, this target is realistic,” wrote Kendrick in a recent note.

He highlighted the role of U.S. retirement funds and the possibility of a U.S. strategic reserve fund embracing Bitcoin as a potential game-changer. MicroStrategy’s aggressive buying strategy is also a factor.

The company is ahead of schedule on its $42 billion, three-year plan, and Kendrick expects 2025 purchases to outpace those in 2024.

Bitcoin price analysis is bullish on BTC price as it stalls at $100K

Almost half of that surge has come since November 5, when Donald Trump’s election victory brought renewed optimism among crypto lovers. As we reported, he has promised to “keep an eye on Bitcoin’s price” while he’s in office.

Bernstein’s latest note sees Bitcoin replacing gold as the go-to store of value within the next decade.

“Bitcoin is well on its way to becoming a standard asset in institutional portfolios and corporate treasuries,” wrote Bernstein analyst Gautam Chhugani, who expects Bitcoin to reach $200,000 by late 2025.

Fundstrat’s Tom Lee is even more bullish, predicting a price of $250,000 in 2025. Bitcoin’s current record high, set earlier this week, stands at $103,844, a figure many believe will be eclipsed sooner rather than later.

Despite the short-term volatility expected around the $100,000 level, long-term projections point to substantial growth.

Bitcoin is increasingly viewed as a low-correlation asset, a potential hedge against economic instability, and a legitimate alternative to gold, say analysts. Yet, challenges remain.

Bitcoin is still far from being widely accepted as a medium of exchange or unit of account. Skeptics argue it needs more time to prove its stability before it can compete with traditional financial systems.