Bitcoin hit $100k by month-end? ‘Probably,’ crypto millionaire says

At press time on Sunday, Bitcoin (BTC) was trading at $82,900. It is up 10% from its lowest level this month, giving it a market cap of $1.62 billion.

This resistance is likely due to investors still being fearful and on the sidelines. The Cryptocurrency Fear and Greed Index 24 remains in the fear zone, likely due to the ongoing trade war between the US and its major trading partners.

Josh Mundell, a popular analyst and millionaire with over 79,000 followers on X, predicts that Bitcoin could reach $100,000 by the end of the month if it closes above $84,000.

His X profile shows that Mundell has been in the trading industry for many years. He also worked at Salomon Brothers and Caxton Associates in the 1990s. Salomon was one of the largest investment banks in the United States until Travelers acquired it in 1997. Caxton Associates is a leading hedge fund with over $12 billion in assets under management.

Mandel gained popularity after he released his Fidelity account figures, which showed that his portfolio had grown from $2.1 million to over $23.4 million. He achieved this feat primarily through trading Bitcoin and Strategy or MSTR options.

Mandel also gained popularity after his cryptic Bitcoin price forecast went viral in November. He predicted that BTC would reach $444,000 if the base was $84. The post has been viewed over 1 million times.

Other popular crypto analysts remain bullish on Bitcoin. Cathie Wood’s Ark Invest bought $80 million worth of Bitcoin this month and increased its stake in Coinbase. Michael Saylor's strategy has also accumulated more bitcoin in the past few months, a sign that he expects a price surge. Bitcoin needs to rise by about 18% this month to reach $100,000. This is possible, but it will depend on two key catalysts.

First, the market has to adjust to President Donald Trump's tariffs. This explains why US stocks surged on Friday, with the Dow Jones and Nasdaq 100 indexes moving up 674 and 450 points, respectively.

Historically, stock markets have overreacted to black swan events and then recovered. A good example of this is the COVID-19 pandemic, where they collapsed and then rose again.

Second, the Federal Reserve needs to adopt a more accommodative stance as the likelihood of a US economic contraction in the first quarter has increased. The Atlanta FedNow tool estimates that US GDP will fall by 2.4% in the first quarter. The Fed's dovish stance is likely to increase risk appetite and boost Bitcoin and altcoin prices.