Experts Predict Bitcoin Could Hit $100,000 by Year-End Despite Market Challenges
Despite recent setbacks in the cryptocurrency market, prominent figures like Matt Hougan, CIO at Bitwise, and Anthony Scaramucci, founder of SkyBridge Capital, forecast Bitcoin (BTC) reaching $100,000 by year-end.
Their optimism is driven by key market developments and regulatory shifts.
The crypto market faces challenges, including Bitcoin distributions from the defunct Mt. Gox exchange and the US government’s sale of seized Bitcoin. Additionally, the German government has been selling Bitcoin from various seizures.
Despite these pressures, Hougan views these transactions as “one-off sales” that the market will absorb.
He believes long-term bullish factors, such as favorable regulatory changes in Washington and the anticipated approval of spot Ethereum ETFs by the SEC, will drive significant growth.
READ MORE: CFTC Chairman Affirms Most Cryptocurrencies Not Securities
Hougan also cites expected Federal Reserve rate cuts, strong growth in stablecoins, developments in Layer 2 technologies, and institutional interest from entities like BlackRock as key factors that could propel Bitcoin to $100,000 and Ethereum to new highs.
Anthony Scaramucci shares this sentiment, predicting Bitcoin could reach $100,000 by year-end and $170,000 post-halving.
Recent data from SoSo Value shows investor confidence in Bitcoin, with US spot Bitcoin ETFs receiving $801.7 million in inflows from July 5 to July 10 and Hong Kong’s spot Bitcoin ETFs attracting 428.59 BTC, worth approximately $25 million.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
