When Bitcoin (BTC) Price Will Hit $100k? Analyst Predicts The Timeline

Bitcoin’s rise above the $31,000 mark is a major milestone. It reached a one-year high despite the ongoing bear market. And the upward trend may continue. The Bitcoin price experienced a significant surge on Tuesday, June 27, reaching a near-one-year high and this rise coincided with the news of Fidelity Investments filing for a spot Bitcoin ETF. The potential introduction of a legitimate spot ETF has the potential to attract new capital, increase trading volumes, and generate greater overall interest in the market.

A popular cryptocurrency analyst known as Kaleo has shared his prediction on when Bitcoin (BTC) is likely to reach a six-figure price for the first time. Kaleo suggests that Bitcoin will surpass the $100,000 mark in late 2024 or early 2025. He speculates that the timing could even be as early as late 2024, making the year 2025 an exciting one for Bitcoin enthusiasts.

Also Read : Bitcoin Price Prediction 2023, 2024, 2025: Will The BTC Price Rise Again?

Kaleo’s projection aligns with Bitcoin’s upcoming halving event scheduled for April 2024. Historically, such events have influenced significant price movements in the cryptocurrency market.

The analyst is closely monitoring Bitcoin’s price performance in relation to the Nasdaq 100 index (NDX). Kaleo highlights that Bitcoin is currently breaking above a bearish downtrend against the NDX, a pattern that has historically signaled the beginning of substantial rallies for the leading cryptocurrency.

“Bitcoin vs. NDX. This is still one of my favorite chart comparisons to watch. BTC historically has had massive rallies vs. tech when it has broken above HTF (high time frame) bearish downtrends like the ones shown below. This is where you stack.”

One of Kaleo’s favorite chart comparisons is the correlation between Bitcoin and the NDX, and he encourages investors to pay attention to these trends, suggesting that this could be an opportune time to accumulate Bitcoin.