Possibility for Bitcoin to reach 100,000 USD: In 2024, Bitcoin is expected to surpass the 100,000 USD level. On PolyMarket platform, 4.5 million USD has been pooled into predicting Bitcoin will achieve this mark. However, Bitcoin faces market volatility and analysts suggest the path to 100,000 USD will not be straightforward.

Factors hindering Bitcoin’s price: Price volatility and profit-taking habits are two factors restraining Bitcoin from reaching 100,000 USD. Some investors tend to take profits early, causing temporary resistance. If Bitcoin fails to meet its goal this year, investors will focus on early 2025 as another potential timeframe.

Expectations from Bitcoin futures contracts: Futures contracts on the Chicago exchange show expectations that Bitcoin will hit 103,065 USD in early 2025. Currently, futures expiring in December 2024 are priced below 100,000 USD. This indicates traders’ caution about market volatility potentially keeping Bitcoin below 100,000 USD.