The current price trajectory of Bitcoin (BTC) could take it to $100,000 within the next 90 days, regardless of the results of the US presidential election.

Bitcoin at $100,000 by February 2025?

Crypto analyst Timothy Peterson suggests that BTC’s current price movement is not fundamentally different from previous trends, raising questions about the “diminishing marginal returns” theory.

From an investor’s perspective, Bitcoin’s theory of diminishing marginal returns posits that each halving cycle leads to smaller subsequent price increases as the overall market capitalization of a given digital asset matures and supply shocks have less of an impact on driving demand.

This suggests that while BTC may continue to rise, the extraordinary gains seen in early cycles may decline over time. However, Peterson’s assessment appears to reject this theory.

As a reminder, BTC reached its all-time high (ATH) of $73,737 in March 2024. Since then, the leading cryptocurrency has consolidated for almost eight months in a wide price range, reaching as low as $54,000. At the time of writing, BTC is trading at $67,998, which is approximately 10% less than ATH.

Peterson argues that a move of BTC just above the red trend line would cause the digital asset to reach a price of $100,000 within 90 days. The analyst added that such a move would be “entirely within reason.” Added:

The conservative scenario assumes that Bitcoin will reach a price of 100,000. dollars around February. I think this happens regardless of the US election results.

Moreover, the analyst suggested that according to other data-driven metrics he monitors, BTC is not overvalued at its current market valuation and is increasingly less likely to fall below $60,000.

Focus on BTC price predictions for the end of the year

While Peterson predicts BTC will approach $100,000 within three months, other analysts and industry insiders have different expectations.

For example, options traders to expect BTC will break through its previous ATH by the end of November, regardless of who becomes the next US president.

Likewise in a recent note from Bitwise client CIO Matt Hougan scratched several factors that could force BTC to “melt” to $80,000 in the fourth quarter of 2024.

These factors include a potential victory for Republican candidate Donald Trump, additional interest rate cuts by the US Federal Reserve (Fed), and a longer period free from major negative events in the cryptocurrency sector.

In addition to the above-mentioned factors, optimism surrounding BTC’s year-end rally is also fueled by rising retail demand for the top digital asset.

The latest analysis by CryptoQuant highlighted that Bitcoin transactions of less than $10,000 are trending upwards, indicating renewed retail demand as the market gradually shifts from risk-off to risk-on mode. BTC’s price on the daily chart at press time was $67,998, up 1.1% over the past 24 hours.

Featured image from Unsplash, Charts from X and Tradingview.com