Will Bitcoin hit $100,000 in May?

Summary ⚈ Bitcoin is trading near $95,000 and needs a 5.46% gain to reach $100,000. ⚈ Analyst Michael van de Poppe says Bitcoin hasn’t yet topped gold’s all-time high. ⚈ Historical May returns suggest BTC could surpass $100,000 this month if trends hold. Bitcoin ( BTC ) has seen a 6.57% rally over the past seven days. The flagship cryptocurrency is currently trading at $94,820, with year-to-date (YTD) returns standing at 1.41%, and faces resistance at $95,000. Should it surpass that level, Bitcoin could easily hit $100,000 in May. BTC price 1-week and year-to-date (YTD) charts. Source: Finbold The digital asset has stopped trading in tandem with the stock market , and instead appears to be mirroring the price action of gold . With money supply (M2) on the rise , Bitcoin, which, unlike traditional equities, has shown a resiliency to tariff risks , would have to rally by 5.46% from current prices in order to cross the $100,000 threshold. Leading cryptocurrency analyst Michael van de Poppe recently noted how “Bitcoin’s value against Gold hasn’t even made an all-time high as of yet. That being said, the real bull on risk-on assets hasn’t really started. It’s approx. 30% away from the previous high in 2021. That’s a great perspective.” https://twitter.com/CryptoMichNL/status/1916508636345782511 Historical performance suggests Bitcoin will hit $100,000 in May Data retrieved by Finbold from cryptocurrency market intelligence platform CoinGlass shows that, since 2013, BTC has provided an average return of 7.94% in the month of May. Replicating its average performance would see the cryptocurrency reach a price of $102,273. Bitcoin average return by month. Source: CoinGlass With that being said, BTC’s median performance in May is 3.17%. Such a surge would not see Bitcoin hit $100,000 — instead, it would reach a price of $97,826. However, with steady capital inflows and investor sentiment improving on account of an ever-likelier detente in the tariff war , the odds that Bitcoin will hit $100,000 are higher than not. Featured image from Shutterstock The post Will Bitcoin hit $100,000 in May? appeared first on Finbold .

Source: Finbold