After the major bull market in 2021, after nearly three years, Bitcoin has once again broken its historical high, proving the cyclical theory of the crypto industry still holds.
This month, breaking the previous high was unexpected for most newcomers, but for seasoned investors, it is not surprising at all; breaking through $70,000, $80,000, and $100,000 is inevitable.
You might say that any market with patterns will be broken, yes, I agree, but perhaps being broken is the next cycle, the cycle after that.
However, it can be confirmed that this bull market has shown that the cyclical theory remains valid; nowadays, people wake up every morning to price increases, with prices hitting new highs nightly, reaching $77,000.
How far are we from a $100,000 Bitcoin?
We all know that the rise and fall of coin prices is essentially driven by funds; Bitcoin ETFs will be the catalyst for pushing Bitcoin to $100,000. After Trump's victory, BlackRock's spot Bitcoin ETF saw $1 billion in trading volume within 20 minutes.
Bloomberg senior ETF analyst Eric Balchunas stated: 'IBIT reached $1 billion in trading volume within the first 20 minutes, which is about its entire day’s trading volume. Other Bitcoin ETFs are facing the same situation, with crazy trading volumes, and are expected to set trading volume records.'
BlackRock's Bitcoin ETF manages assets of about $30 billion, higher than other Bitcoin ETF products.
According to Yahoo Finance, as of last Wednesday at 1:10 PM Eastern Time, the trading prices of BlackRock, Fidelity, and Grayscale's spot Bitcoin ETFs have all risen by about 8%.
The following ETFs are ranked in the top two for daily inflows.
On November 7, inflow of $1.11692 billion
On October 30, inflow of $872 million
In summary, BlackRock is buying and buying, non-stop.
According to Whale Alert monitoring, Tether Treasury has minted an additional 1 billion USDT on Ethereum.
Every major bull market is inseparable from the massive issuance of stablecoins like USDT.
Let's take a look at the news.
1. Standard Chartered analyst Geoff Kendrick predicts that if the Republican Party successfully controls both houses of Congress, the crypto market's market cap could reach $10 trillion by the end of 2026, growing 300% from the current $2.7 trillion.
Kendrick believes that a Republican-led government may bring friendly policies, such as easing stablecoin regulations and adopting a more lenient stance at the SEC, promoting major benefits like Bitcoin reserves.
If this prediction holds, with a threefold increase, the price of Bitcoin will reach $240,000.
2. German parliament member Joana Cotar stated, 'If the U.S. buys Bitcoin as a strategic reserve, then I believe all European countries will experience FOMO.'
If the proposal for the U.S. to treat Bitcoin as a strategic reserve passes, then the whole of Europe will FOMO, inevitably leading to a phenomenon of major powers scrambling to acquire it.
By then, Bitcoin may not be $100,000 anymore; $1 million or even higher is possible, after all, Bitcoin has never needed to convince anyone over the years, only the increase in coin price has convinced every short position.
3. Market observers noted that after Trump's election win, Bitcoin's Google search volume surged, and with Bitcoin prices reaching historical highs, it indicates that retail investor interest has reignited, with a wave of new buyers preparing to enter the cryptocurrency market.
Solv Protocol co-founder Ryan Chow stated that Trump's election victory is 'the main catalyst for starting the next bull market.' Crypto macro analyst Noelle Acheson said: 'Overall, retail investors tend to be latecomers, as they are influenced by price-related headlines and widespread social attention.'
Due to the absence of retail investors, market observers can speculate that the crypto cycle is in its early stages; when retail investors start flooding in, we will know we are nearing the peak of speculation.
When the coin price reaches $100,000, global media will report extensively, and it is foreseeable that a large number of small retail investors will start entering the market.
4. Fundstrat co-founder Tom Lee stated in an interview with CNBC that Bitcoin may become a treasury reserve asset to help offset the U.S. deficit, and Bitcoin could still reach $100,000 this year, with significant upside potential.
5. FxPro senior market analyst Alex Kuptsikevich stated: 'Influenced by the results of the U.S. election, Bitcoin has risen sharply and may consolidate its strength before the next surge.'
Overall, the new high has triggered a strong new growth wave, potentially rising to $100,000 to $110,000 within 2-3 months.
CNBC also stated that Bitcoin's price might reach $100,000 before the presidential inauguration.
Considering the above information and cycles, from a timing perspective, Bitcoin is very likely to break through the $100,000 mark by the end of this year, and from a price perspective, it only needs to rise about 30% from $77,000 to $100,000.
Is it possible to increase by 30% in two months? We noticed a data point that in February this year, BTC's monthly increase was 44.76%, and in March it was 12.13%, totaling a 56% increase over two months.
If the upcoming market replicates the gains of February and March, or even if it only achieves half of the gains from those months, the probability of reaching $100,000 by the end of the year is still significant.
If you cannot understand the logic above, that's normal; the financial market has always been 70% loss, 20% break-even, and 10% profit. What makes you think you are in that 10%? Without experience, information, or capital strength, it's inevitable to be among the 70% who lose.
Traveling with Mo, binding together with those who profit, may not be a bad choice.
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