Crypto Price Prediction: What to Expect Before Bitcoin Price Hits $100K

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The Bitcoin market has seen a remarkable 29.7% rise over the last 30 days, recently breaking above its previous all-time high on November 6. Now sitting above $80,000, excitement is building in the crypto community. According to a post by crypto investor Alistair Milne on X, Bitcoin might soon hit the much-anticipated $100K range.

Here’s what his prediction is all about.

A Path to $100K: Milne’s Bold Prediction

Milne is confident that Bitcoin is on track to cross the $100K mark. Since November 5, the day of the U.S. presidential election, Bitcoin has already surged by 19.76%. Before this rally, the market was in a consolidation phase from mid-March to late October.

But renewed buying pressure on October 26 pushed Bitcoin out of this range, igniting the upward trend. By October 29, Bitcoin reached a peak of $72,726.78, marking a climb of nearly 21.73% since October 26.

Volatility Ahead? A Potential Correction Looms

After the October 29 peak, Bitcoin faced a sharp pullback, dropping by 6.7% between October 30 and November 4. Milne suggests that Bitcoin could see a correction of nearly 25% before it finally hits $100K. He warns that at around $95K, some investors may sell off, anticipating a price correction and potentially stalling further upward momentum.

Milne believes that once Bitcoin breaks the $100K barrier, the market could experience rapid acceleration. This surge could spark a wave of FOMO (fear of missing out), drawing in new and returning investors and fueling another phase of aggressive buying.

New Bitcoin Reserve In the Making?

Milne also notes that a new Trump administration might establish a National Strategic Bitcoin Reserve. He adds that if this happens, it could lead to large-scale U.S. government buying.

In conclusion, as Bitcoin moves closer to $100K, Milne’s insights highlight the market’s potential volatility and the possibility of historic price milestones.