Financial analyst Vladislav Antonov from BitRiver said that Bitcoin could reach the $100,000 mark by the end of the year.

Since the beginning of this year, Bitcoin has risen in price by 71%, reaching a maximum of $ 73 thousand. Several factors contribute to the strengthening of the Bitcoin price: purchases by institutional investors through approved spot bitcoin ETFs in January, a decrease in BTC on centralized exchanges, optimistic market sentiment and expectations of price growth before halving bitcoin in 2024. This is also due to the weakening of the dollar in the global foreign exchange market and the rally of the US stock indexes (S&P 500 and Nasdaq), as well as the liquidation of short positions of traders.

The expert noted that the upward trend of Bitcoin began with a minimum of $15,476 in November 2022, and the current yield is 361.90%. The historical maximum reached $73 thousand.

The question of whether growth will continue or a correction from current levels will begin remains open. The technical picture still points to a strong uptrend, and if investors pay attention to the profitability of bitcoin and altcoins from traditional markets, Bitcoin can reach the level of $82 thousand, with an intermediate level of $ 75 thousand. In 2024, with continued demand for BTC and its limited issuance, as well as taking into account the halving of the block reward, Bitcoin may reach $ 100 thousand.

In case of a decrease in buyer activity in the next two weeks, a downward correction is possible, Antonov noted. He also warned of a possible drop of more than 30% if mass fixing begins.

On March 5, Candidate of Economics, associate professor at the Financial University under the Government of the Russian Federation Petr Shcherbachenko noted that the growth of Bitcoin has a casino element caused by the optimism of crypto investors after the approval of 11 spot exchange-traded funds (ETFs) by the American Securities and Exchange Commission.