A prediction platform called Polymarket has given Bitcoin a 50% chance of hitting $100,000 again before the year’s end. Other scenarios suggest a much smaller chance of exceeding $110,000 at just 18%, while a fall below $80,000 is projected to reach 37%. Although recent market trends have shown upward movement, volatility remains high. Bitcoin’s price rose by 1.69% within the past 24 hours to reach $91,431, showcasing a weekly growth of 5.11%.
Analysts are optimistic about Bitcoin’s future thanks to global macroeconomic dynamics. Luca Paolini from Pictet Asset Management predicts the US dollar will weaken in the next year due to the anticipated slow down of the American economy and subsequent interest rate cuts by the Federal Reserve. Paolini also believes that the current high valuation of the dollar will be mitigated by this shift.
*This is not investment advice.*