Key Points
- Bitcoin is expected to reach $100,000 by the end of the month, according to a popular crypto millionaire.
- Bitcoin’s rise will depend on the market adjusting to tariffs and a dovish Federal Reserve.
Bitcoin is currently trading at $82,900, a 10% increase from its lowest level this month. The market cap of Bitcoin stands at $1.62 billion.
Bitcoin’s Potential Rise
Despite the current price, there is a prediction that Bitcoin could reach $100,000 by the end of the month. This prediction comes from Josh Mandell, a well-known analyst and millionaire with a following of over 79,000 on X. According to Mandell, if Bitcoin can close above $84,000, it has the potential to hit the $100,000 mark.
Mandell brings years of trading industry experience to his predictions. He has worked for notable firms such as Salomon Brothers and Caxton Associates. Mandell has gained popularity by sharing his Fidelity account details, revealing a portfolio growth from $2.1 million to over $23.4 million, primarily through trading Bitcoin and MSTR options.
Factors Influencing Bitcoin’s Rise
For Bitcoin to hit the $100,000 mark, it would need to increase by approximately 18%. This is contingent on two key catalysts.
First, the market needs to adapt to President Donald Trump’s tariffs. This is evident in the rise of U.S. equities, with the Dow Jones and Nasdaq 100 indices increasing by 674 and 450 points, respectively. Historically, the stock market has been known to rebound following a black swan event, as seen during the COVID-19 pandemic.
Second, the Federal Reserve needs to adopt a dovish tone, especially with the increased likelihood of the U.S. economy contracting in the first quarter. A dovish Federal Reserve could lead to a risk-on sentiment, potentially driving Bitcoin and altcoin prices higher.
Other well-known crypto analysts, such as Cathie Wood’s Ark Invest and Michael Saylor’s Strategy, remain bullish on Bitcoin. This optimism is reflected in their recent investments, with Ark Invest purchasing $80 million worth of Bitcoins and increasing its stake on Coinbase, and Strategy accumulating more Bitcoins in anticipation of a price rebound.
