Positive U.S. developments could propel Bitcoin beyond $130,000

Bitcoin's price trajectory continues to captivate industry experts, with many predicting unprecedented highs before the year's end. Roundtable anchor, Rob Nelson, and Javier Rodriguez-Alarcon, Chief Commercial Officer at XBTO, recently shared their insights on where the cryptocurrency might be headed.

Rob Nelson expressed his optimism, stating, "I think it breaks a $100,000 before the end of the year. Now there's no guarantee on that. I know people think it's going to hit $125,000." Acknowledging the uncertainties inherent in market analysis, he emphasized that predicting prices is challenging but remains hopeful about bitcoin's upward trend.

Javier Rodriguez-Alarcon agreed with Nelson's outlook. "We were thinking about reaching the $100,000 by the end of the year will be very possible," he said. Highlighting the current state of "price discovery," he noted the difficulty in setting precise ranges but remained bullish about hitting the $100,000 mark.

Fundstrat analyst Sean Farrell told Coinage at the beginning of the year back in January that his year-end price target was $116,000 . As the year comes to a close, that's looking eerily possible.

Looking ahead, Rodriguez-Alarcon projected that if bitcoin surpasses $100,000, "We could actually see first quarter of 2025 trading in a $120,000, a $125,000, $130,000." He pointed out that the market might test new highs, but cautioned that it's challenging to predict exact figures due to uncharted territory.

He also mentioned positive developments influencing bitcoin's future, particularly with the change in the U.S. administration. " I think the news are skewed to significantly more positive developments," Rodriguez-Alarcon said, adding that factors like discussions about the strategic reserve could be "Absolutely incredibly impactful to the price of bitcoin."