With the Bitcoin halving drawing near, market participants are contemplating whether the asset has reached its peak or if there’s further room for growth and when the next upward shift might transpire.
Following a breather from a powerful uptrend, Bitcoin is slowly regaining its strength again as it trades above $69k. However, market participants remain optimistic about BTC’s trajectory and are confident that the leading crypto asset will claim a milestone by the end of this year.
According to PlanB’s latest poll on X (formerly Twitter), a staggering 71.9% of respondents anticipate Bitcoin reaching $100k by 2024, demonstrating bullish sentiment.
Meanwhile, 18.1% foresee this milestone in 2025, with only a modest 5.1% expecting it in 2026 or beyond. Surprisingly, a mere 4.9% doubt that the world’s largest crypto will ever achieve the coveted $100k mark.
The result does not seem far-fetched, considering there are multiple bullish catalysts at play.
For one, the Coinbase Premium Index has also flipped positive, which is indicative of renewed interest from both retail and institutional investors in the United States.
Spot Bitcoin ETF is also seeing notable inflows while new players are gearing up to offer similar products.
For example, asset management company Hashdex announced that it was venturing into the US spot Bitcoin ETF scene by converting its futures ETF to hold spot Bitcoin primarily.
Rebranded as the Hashdex Bitcoin ETF, it will predominantly allocate its assets to spot Bitcoin, with a minor portion invested in Bitcoin futures contracts.
Earlier this week, renowned author of “Rich Dad Poor Dad,” Robert Kiyosaki, also advocated for Bitcoin as the top investment choice while simultaneously criticizing the US dollar for its fundamental flaws.