Ash Crypto cryptocurrency analyst presented several reasons why the price of Bitcoin is expected to reach $100,000 by the end of the year. This price level is one that appeals to other market experts Standard Chartered has predicted that the flagship cryptocurrency could hit before the end of the year.

Why Bitcoin Price Could Hit $100,000 by the End of the Year

Ash Crypto stated in Post X that the answer to the question of whether Bitcoin will reach $100,000 in the fourth quarter of this year lies in: past halving cycles. He noted that BTC typically goes through a consolidation phase lasting about six months after each halving. In 2016, the flagship cryptocurrency is said to have witnessed 161 days of consolidation before breaking out in price. Meanwhile, in 2020, Bitcoin saw 175 days of consolidation before its price broke out.

In line with this, Ash Crypto saw the flagship cryptocurrency consolidate for 161 days since Halved event in April this year. Therefore, the analyst said that there is a high probability that Bitcoin’s price may experience a breakout in the next two to three weeks. He then outlined the fundamentals that could trigger a price breakout.

Firstly, Ash Crypto stated that China is printing $280 billion to stimulate its economy. This concerns the announcement by the People’s Bank of China of a stimulus package that will assist revive the country’s economy. China’s monetary easing policy has been bullish on Bitcoin, which has led to piercing price increases for the flagship cryptocurrency in the past.

The analyst further noted that US Federal Reserve started lowering interest rates. At the September FOMC meeting, the Fed announced a 50 basis point (bps) interest rate cut. There are also expectations that another 50 basis point interest rate cut may occur before the end of the year. This is also bullish for Bitcoin’s price, as more liquidity may flow into the flagship cryptocurrency and American investors will have access to more capital.

Another macro factor cited by the analyst is the fact that the Bank of Japan (BOJ) has apparently adopted a dovish stance and is currently no longer considering interest rate increases. The Bitcoin price dropped below $50,000 in the infamous cryptocurrency market on August 5 following the BOJ’s decision to boost interest rates for the first time in 17 years.

Therefore, the BOJ’s decision not to boost interest rates is positive for Bitcoin. Doing otherwise could revive the specters of carry yen trading as Japanese investors liquidate their positions in risky assets such as BTC.

Other factors that could trigger an boost to $100,000

Ash Crypto also listed other factors that could assist Bitcoin price reach $100,000. The analyst noticed this Donald Trump he is leading in the polls again and will likely win the November US presidential election. Trump’s victory is considered a victory for Bitcoin and the broader cryptocurrency market because it is a first The US president declared his support for cryptocurrencies.

The analyst also cited Spot Bitcoin ETFs that have started accumulating again. Bitcoin flow to the exchange has also reached a very low level, indicating that investors are choosing to hold cryptocurrencies for the long term, which means there is less selling pressure. FTX clients are expected to receive repayments this quarter, which could result in more liquidity flowing into Bitcoin.

Finally, Russia plans to operate cryptocurrencies like Bitcoin for cross-border payments from November, while global money supply reached fresh highs. This is why the price of Bitcoin is currently bullish.

Interestingly, Ash Crypto stated that the cryptocurrency market has still not incorporated all of these bullish fundamentals. He stated that Bitcoin will reach fresh heights highest level ever (ATH) when will it happen.

Featured image created with Dall.E, chart from Tradingview.com