Bitcoin · Federal Reserve (FED) · CoinDesk
Bitcoin’s $100,000 year-end hope divides analysts as inflation clouds outlook
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Bitcoin BTC $82,001.05 could reclaim $100,000 before year-end as institutional adoption and demand for hard assets overcome near-term economic uncertainty, according to crypto asset manager Bitwise, offering a more bullish outlook than traders who expect inflation and elevated interest rates to constrain gains.
Key facts
- In a research note to clients earlier this week authored by Peter Christiansen, Citi (C) said total crypto market capitalization rose from roughly $2.1 trillion to nearly $3 trillion during the third
- Bitcoin BTC $82,001.05 could reclaim $100,000 before year-end as institutional adoption and demand for hard assets overcome near-term economic uncertainty, according to crypto asset manager Bitwise
- Inflation figures released Oct. 14 complicated the outlook: consumer prices rose 0.6% from the previous month, while core prices increased 0.3%
- A clean break above $90K for BTC could trigger another round of short covering,” Invernizzi said
Summary
Bitwise sees bitcoin potentially topping $100,000 by year-end, supported by institutional adoption and demand for hard assets. Laser Digital sees potential for a short squeeze, while CoinShares says a sustained breakout needs renewed buying. Ryan Rasmussen, head of research at Bitwise, expects bitcoin to emerge from the coming weeks’ uncertainty at a higher valuation. “We believe bitcoin ends the year higher, potentially above $100,000,” Rasmussen told CoinDesk.