After reaching a new all-time high, expectations for Bitcoin's price have increased. Recent forecasts suggest the potential to hit $115,000 in the next 9 days.
Predictions at $115,000
Traders on the predictive crypto marketplace Polymarket are assessing a 64% chance that Bitcoin will reach $115,000 in the next nine days, a considerable increase from last week’s 14%. Bitcoin has surpassed the $110,000 level, showing a strong rally since its low of $74,500 in early April.
ETF Market and Institutional Investments
eToro Australia analyst Reece Hobson attributes the recent rally to increased global liquidity and a surge in capital into Bitcoin ETFs, with nearly $3 billion in institutional inflows in May alone. Bitcoin is perceived as both a risky investment vehicle similar to tech stocks and a safe haven, creating a unique 'dual narrative' for investors.
Year-End Expectations and Risks
Ari10 CEO Mateusz Kara stated that Bitcoin could reach $150,000 this year if the US Federal Reserve cuts interest rates and political uncertainty decreases. Standard Chartered analyst Geoff Kendrick predicts that Bitcoin could reach $120,000 by the end of the quarter. However, CEX.IO analyst Illia Otychenko pointed out a 36% decrease in volume in the derivatives markets and a 29% decline in the spot market over the past month, emphasizing caution regarding the permanence of the increase.
In recent weeks, Bitcoin has shown significant growth, generating optimism among traders. However, experts caution about the risks and potential surprises that may arise in the market.
