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Bitcoin momentum ignites FOMO as experts predict $100K

Bitcoin momentum ignites FOMO as experts predict $100K

GrafaGrafa2024/11/12 11:00
By:Isaac Francis

Bitcoin's (CRYPTO:BTC) climb to new all-time highs has triggered widespread FOMO (fear of missing out) among investors.

Alexander Blume, CEO of Two Prime, highlighted the current surge, linking it to investor optimism following Donald Trump’s presidential victory.

“BTC and nearly all risk-on assets have rallied following Trump’s election victory,” Blume said, attributing the gains to anticipated pro-business policies, tax cuts, reduced regulations, and increased government spending.

"Until Trump gets into office, there is nothing based in reality to dampen hope and speculation," observed Blume, noting that investor sentiment remains buoyant for now. 

The anticipation of more business-friendly policies and potential changes at regulatory bodies like the SEC has fueled a rally that positioned Bitcoin as a top indicator of global liquidity.

Blume pointed out that the broader crypto market has been “massively de-risked” under expectations of a supportive administration, which may push for “real rules and fair regulation” in the coming term.

He also highlighted Bitcoin’s consistent performance over election cycles, describing it as part of a four-year parabolic pattern, which bolsters investor confidence.

“BTC is showing signs that it continues to follow its four year parabolic pattern, with high returns usually following the U.S. elections and the four-year global liquidity cycle,” Blume added.

Bitcoin’s weekend rally to $82,000 and its new all-time high has heightened FOMO, particularly for ETF investors looking for entry points.

“This likely also creates a sense of FOMO for ETF investors who have been sidelined until this morning. BTC is a momentum-driven asset in many respects and the momentum is heading higher,” Blume emphasized.

In a Schwab Network interview, Blume shared his belief that Bitcoin could reach $100,000 by year-end, citing multiple factors driving its current momentum.

“I think it’s gonna happen sooner than you think. I wouldn’t be surprised by the end of the year,” he concluded.

At the time of reporting, the Bitcoin price was $87,885.35.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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