Bitcoin Price Prediction: $100k and Beyond?


Bitcoin Price Prediction: $100k and Beyond?  image 0


  • Bitcoin withdrawal from exchanges amounts to nearly $1 billion in two weeks, signaling increased investor confidence in the asset's long-term value.

  • SEC seeks public feedback on Franklin Templeton's Spot Bitcoin ETF, fueling expectations for potential approval, a move anticipated to stimulate market optimism.

  • Analysts project Bitcoin to rally toward a $41,000 target in December, with current market trends suggesting a bullish breakout as BTC hovers near $38,000.

  • Standard Chartered Bank predicts Bitcoin's surge to $100,000 by 2024, expecting several U.S.-based spot Bitcoin ETF approvals in Q1-2024 to stimulate institutional investment.

In recent weeks, the Bitcoin (BTC) market has been buzzing with a myriad of developments, raising questions about the trajectory of its price. With various indicators and predictions on the horizon, enthusiasts and investors alike are closely scrutinizing BTC's movements, eagerly anticipating a surge to the coveted $100,000 mark and beyond.


Recent Market Trends

According to the latest data from crypto intelligence tracker, Glassnode, an estimated $1 billion worth of Bitcoin has been withdrawn from exchanges over the last fortnight, signaling a potential bullish sentiment. Additionally, the anticipation surrounding the approval of Franklin Templeton’s Spot Bitcoin ETF by the US Securities and Exchange Commission (SEC) has fueled expectations for ETF approvals, which could significantly influence BTC’s price dynamics.

This continues Bitcoin's roaring trend this year, especially following the introduction of the BRC-20 token standard and Ordinals inscriptions - which set a wave of precedents for other blockchains as well. Ethscriptions, as well as Solana-based SPL-20 inscriptions, have since joined in the foray, echoing the success and influence Bitcoin inscriptions had on the broader market.


Analyst Projections and Technical Indicators

Market analysts have been painting an intriguing picture of BTC's future. Forecasts suggest a potential BTC price rally reaching $41,000 in December. Further technical analyses indicate a weakening resistance at the $38,000 level, paving the way for a bullish breakout. Notably, Standard Chartered Bank stands firm in its earlier prediction that Bitcoin will eventually scale the monumental heights of $100,000 by the culmination of 2024.

“Put simply, everything is working as expected," the bank reiterated. "BTC’s dominance remains intact – its share of overall digital assets market cap has increased to 50% from 45% in April."

The next significant to look out for would likely be the approvals of the U.S.-based spot bitcoin ETFs, the bank continued, noting that they are "likely to come sooner than expected."


Factors Influencing Bitcoin's Trajectory

Nevertheless, the Bitcoin market remains susceptible to various factors, with both macroeconomic and regulatory elements shaping its trajectory. Inflation concerns in prominent economies like the US and the UK, coupled with the recent Federal Reserve interest rate hike, have contributed to Bitcoin's recent fluctuation below the $30,000 mark. Regulatory actions, such as the SEC's lawsuit against Binance, have also had reverberations in BTC’s price movements, emphasizing the market's sensitivity to regulatory developments.


Long-Term Outlook and BTC Halving

Despite short-term fluctuations, industry experts continue to uphold an optimistic stance regarding BTC's long-term trajectory. These seasoned observers anticipate substantial growth, projecting Bitcoin to potentially ascend to $60,000 by the culmination of 2023. This optimistic outlook is underpinned by various factors, notably the upcoming Bitcoin halving event in 2024, heralded as a pivotal moment that historically ushers in remarkable price momentum and surges in BTC's value.

The Bitcoin halving event, occurring every four years, serves as a fundamental mechanism to regulate the issuance of new BTC coins. By halving miner rewards, this event inherently diminishes the rate at which new Bitcoins enter circulation, effectively curbing the available supply. This constrained supply dynamic has historically played a fundamental role in driving BTC's value upwards, creating scarcity and fostering an environment conducive to price appreciation.

Moreover, the impending halving is perceived as a catalyst that not only impacts the supply dynamics but also influences market sentiment. It embodies a significant moment within the Bitcoin ecosystem, with participants closely monitoring its occurrence and its potential effects on the broader market. The anticipation and buildup surrounding the halving often cultivate an atmosphere of speculation and heightened interest among traders and investors, contributing to an optimistic narrative regarding BTC's future value.

While short-term volatility may sway market sentiment, the overarching consensus among industry experts remains consistent in their belief in Bitcoin's potential for sustained growth. The convergence of factors such as the forthcoming halving event, its historical impact on supply dynamics, and the resulting price surges, collectively form a compelling narrative reinforcing positive sentiments about BTC's long-term trajectory and potential value appreciation.


Navigating Uncertainty and Global Regulatory Changes

Amidst these optimistic predictions, a cautious approach is warranted. Global regulatory changes, such as India's move to bring crypto-related transactions under anti-money laundering regulations, are indicative of the ongoing efforts to regulate the crypto space. However, despite the regulatory landscape's uncertainty, the crypto community continues to explore the potential of cryptocurrencies, emphasizing the need for vigilance amidst evolving market dynamics.


Purchase BTC Using Bitget Wallet Today!

Interested in owning a share of Bitcoin's legacy? Hop on over to Bitget Swap, to purchase some today! Follow the steps below to connect to the Bitcoin network and make your purchase.

Step 1: Select "All Mainnets" at the top of your main homepage.

Step 2: Enter "Bitcoin" into the search field and add the Bitcoin network to your Bitget Wallet.

Step 3: Return to your main homepage and tap on "Swap", which will bring you to the Bitget Swap dashboard.

Step 4: Tap on "Swap" again and fill in the details of your swap.

Step 5: Select "Confirm" and proceed with the on-screen instructions to complete your BTC purchase.

Moving ahead, Bitget Wallet will continue to pay close attention and make strategic investments in BTC ecosystems such as Lightning Network, Nostr, and Taproot to provide users with full access to the Bitcoin network.

Click here to learn more about the differences between BTC Native SegWit and Taproot!

On the product front, both the mobile and browser extension versions of Bitget Wallet are now compatible with Taproot address formats and provide display and transfer services for BRC-20 tokens and NFTs, allowing users to manage their BTC assets, various BRC-20 tokens, and NFTs right from the convenience of their Bitget Wallet.

On the application level, Bitget Wallet recently introduced a dedicated Bitcoin zone within its DApp browser, showcasing dozens of popular Bitcoin ecosystem applications. This includes useful tools such as UniSat, BTCTool, OrdSpace, as well as NFT markets like BitPad and Ordinals Market. Users may also easily search for and access specific DApps using DApp URLs.



The Bitcoin market showcases a blend of optimism, cautious anticipation, and a quest for stability. While price predictions soar to remarkable heights, reaching $100,000 and beyond, market participants remain attentive to the complex interplay of global events, regulatory shifts, and Bitcoin's inherent volatility. As Bitcoin moves towards significant milestones, the journey remains unpredictable, yet inherently intriguing for enthusiasts and investors globally.


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