Analysts are confident that BTC could reach $100,000 by the end of November, pointing to historical chart patterns and increased investor demand following Donald Trump’s victory in the U.S. presidential elections. As of November 13, just a week after the results were announced, Bitcoin crossed the $90,000 mark, setting a new record. Ryan Lee, the lead analyst at Bitget Research, notes that Bitcoin has shown remarkable growth since the beginning of the year, outperforming traditional assets in returns.
According to Lee, November has traditionally been a favorable month for BTC, which could reach $100,000: “A historic 14.7% increase from the current level would allow Bitcoin to surpass this target. The post-halving momentum also positively impacts BTC’s outlook.” CoinGlass reports that Bitcoin has already grown by over 20% this November, with past years’ monthly returns reaching up to 44%.
The situation has drawn attention, coming on the heels of the strongest weekly performance since the U.S. banking crisis in March 2023, when Bitcoin also set new records. Bitfinex analysts support this forecast, suggesting that Trump’s win could accelerate cryptocurrency adoption in the U.S. They believe that the price of “digital gold” could surpass $100,000 in the coming months: “Predicting the exact price is difficult, but current momentum and the absence of recession pressures limit potential downside. We expect BTC to stabilize and accumulate, making the $100,000 mark quite achievable in the near future.”
Among additional factors supporting Bitcoin’s growth, Bitfinex analysts highlight the anticipated decrease in U.S. interest rates.
