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Prediction markets suggest that Bitcoin may reach up to $125,000 or more by the end of the year, with betting platform Kalshi estimating an 85% likelihood of Bitcoin reaching $100,000 by the end of 2024, according to CoinGlass data. The Kobeissi Letter has criticized these predictions as ‘wild’, but predicts a market cap of $2.5 trillion by 2023. The recent rise in Bitcoin’s value is thought to be due to major investments from institutional investors and Bitcoin ETFs, which now manage over $100 billion in total assets.

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If you’re keeping an eye on Bitcoin, you might be interested to know that prediction markets are suggesting that Bitcoin could hit $125,000 or more by the end of this year. You may be wondering what’s driving this bullish outlook.

According to the betting platform Kalshi, the odds of Bitcoin’s price reaching $100,000 before the end of 2024 stand at a massive 85%. However, it is not entirely out of the realm of possibility that the price could even touch $150,000 – a scenario with a respectable 9% chance of happening according to with Kalshi’s figures. Some even think it may gain enough to get to $250,000.

The consensus seems to be that it’s only a matter of time before Bitcoin hits $100,000, rather than it being a question of if it will happen.

The trading resource The Kobeissi Letter has also chimed in, branding these high predictions as ‘wild’. The resource also noted that by the start of 2023, Bitcoin’s market cap may well hit $2.5 trillion.

According to CoinGlass data, Bitcoin has already seen a pretty fruitful November – it’s up nearly 40%, and 55% for Q4 overall.

Since breaking its old highest value set back in March, Bitcoin’s price has continually been on the rise, with barely any support retests or consolidation. Some believe that a pull back might be due next to set the stage for the future, but the market doesn’t seem to have any such plans yet. The $100,000 level remains Bitcoin’s most significant psychological barrier.

In terms of investment, recent influxes from big institutional investors are battling it out with long-term holders, who have been hoarding Bitcoin for years.

A report from analytics firm Glassnode has indicated that Bitcoin ETFs have had a major role in this, having absorbed over 90% of all Bitcoin sold by long-term holders. Despite this, they anticipate more spending from these holders as their profits become increasingly significant.

In the U.S, Bitcoin ETFs had a triumphant week for inflows up to November 22nd. They now manage more than $100 billion in total assets.

Remember, all investments come with risks, so always do your homework before making any decisions.