Analysis: It’s only a matter of time before Bitcoin reaches $100,000, and then real FOMO will come

Michael Cahill, CEO of Douro Labs, said: "It's only a matter of time before Bitcoin reaches $100,000. In my opinion, this could happen as early as the first quarter of 2025. We are seeing unprecedented momentum as the current macro environment is favorable for digital assets." In addition, Matt Klein, portfolio strategist at Nascent, predicts: "Bitcoin will reach $100,000 by Trump's inauguration at the latest. The only question is whether the Lummis Act is worth serious consideration. If the Lummis Act becomes law, there is no limit to the rise." According to Cahill, the post-election rally is not just FOMO, and the current price is not just retail-driven speculation like in 2017. "The market has finally recognized Bitcoin as a legitimate asset and a hedge against inflationary pressures. Now we see a structural shift in investors' views on Bitcoin. The foundation for six-digit prices has begun, and this rally has the potential to consolidate Bitcoin's position as the cornerstone of the global financial system." Bitwise CIO Matt Hougan said that Bitcoin could "easily" reach $10 by the end of the year. "Everyone is paying attention to new entrants buying Bitcoin. This is very real, but another reason for this rebound is that people have stopped selling. Long-term holders are no longer willing to sell Bitcoin at prices below $100,000, and short sellers don't want to fight the general trend." Chandra Duggirala, CEO of Tides.Network, said that the price of Bitcoin could easily reach $100,000 before Thanksgiving, but there are risks in the short term. "We haven't seen strong FOMO from wealth managers, and retail investors are just starting to pay attention. So, this trend is still in its early stages. We believe that once it exceeds $100,000, real FOMO will come." (The Block)