The post Crypto Price Prediction : What to Expect Before Bitcoin Price Hits $100K appeared first on Coinpedia Fintech News
The Bitcoin market has experienced a rise of 29.7% in the last 30 days. On November 6, the market broke above the previous all-time high. Now, the price resides above the range of $80K. A recent post by crypto investor Alistair Milne on the X platform suggests that the BTC market could hit the range of $100K soon. Here is what you should know about the prediction.
Bitcoin’s Journey Toward the $100K Milestone
Milne asserts that the Bitcoin market will cross the range of $100K. Since November 5, the day of the US presidential election, Bitcoin has recorded a growth of 19.76%. Between mid-March and late October, the market had been in a consolidation phase.
It was the buying pressure that emerged on October 26 that pushed the market above the phase. On October 29, the price touched a peak of $72,726.78. Since October 26, the market has climbed by nearly 21.73%.
A Potential 20-25% Correction Before $100K
After the October 29 peak, the market plummeted sharply between October 30 and November 4 by 6.7%. Milne predicts that the BTC market could experience a correction of nearly 25% before the price hits the range of $100K. He points out that when the market reaches around the $95K level, some investors may choose to exit the market, assuming the price may not move up further due to the potential correction.
HODL Vs. Sell: Investor Reactions to the Correction
Milne forecasts that once the BTC price crosses the $100K, the market could see an accelerated increase. He asserts that this massive growth would encourage investors to re-enter the market due to FOMO, triggering a new phase of aggressive buying.
Potential for a U.S Bitcoin Reserve Under Trump
Milne also notes that a new Trump administration might establish a National Strategic Bitcoin Reserve. He adds that if this happens, it could lead to large-scale U.S. government buying.
In conclusion, as Bitcoin moves closer to $100K, Milne’s insights highlight the market’s potential volatility and the possibility of historic price milestones.