Countdown to the fate of Bitcoin (BTC): Can it reach $100,000 in the next 17 days?

The Bitcoin market has seen a massive 20.6% increase over the past seven days. Currently, it is hovering around $90,000. Currently, nearly 46% of Polymarket bettors believe that the price of Bitcoin will reach $100,000 this month. Does this prediction sound unattainable? Let’s take a closer look at this scenario. Are you ready?

Bitcoin Price Prediction: Target Price to Reach $100,000 Soon

The entire cryptocurrency market has seen steady growth since the day of the U.S. presidential election. In the past 24 hours alone, the market has gained nearly 2.9%. All top cryptocurrencies have absorbed the positive sentiment in the market.

The Bitcoin market has surged by more than 32.35% since November 5. Currently, the RSI of the BTC market remains at 81.40, indicating that the market is in the overbought region.

Interestingly, the current Bitcoin price of $89,600 is well above the 50-day SMA of $68,922.08, the 100-day SMA of $64,324.16, and the 200-day SMA of $64,305.98.

At the beginning of this month, the BTC price was around $70,128.41. On November 4, the price dropped to a low of $67,951.65. Since November 5, the market has been growing steadily. Yesterday, the price closed above the key level of $90,000. On November 6, the market entered the overbought zone and has remained there since then.

At 10pm on November 13, at least 63% of Polymarket bettors supported the possibility of Bitcoin reaching the $100,000 level in November. Interestingly, this was the day when the market hit a new high.

Currently, nearly 46% of Polymarket bettors believe the market will reach the $100,000 level within the next 16 days.

$105,000 at a Glance: What Are the Odds?

Notably, Polymarket predicts a 38% chance that BTC will reach its higher target of $105,000, indicating that the platform is optimistic about the current bullish rally.

All in all, based on Polymarket’s strong predictions, the coming weeks could be an exciting period for Bitcoin enthusiasts with their eyes on these lofty targets. Will Bitcoin live up to these expectations? Only time will tell!!