Bitcoin price eyes $100,000 as retail investors fuel market boost

Bitcoin (BTC) and the rest of the crypto market have been booming since Donald Trump won the US presidential election on November 5.

While institutional capital has played a key role in the current upswing, retail investors are not far behind.

Retail Bitcoin Investors

New data points to a sharp increase in retail investors entering the Bitcoin market. This is evident in the Bitcoin Spent Output Value Bands (SOVB) metric shared by CryptoQuant CEO Ki Young Ju, who revealed that transaction volumes below $100,000 have increased to a maximum of three years

This trend is represented by the dominance of smaller transaction bands, which essentially points to greater participation by retail investors rather than large institutional players. The rise aligns with Bitcoin’s recent price appreciation.

Meanwhile, there has also been an increase in Bitcoin transactions above $1 million. The executive believes that large investors could be waiting for more retail buyers to enter the market, especially as Bitcoin approaches $100,000.

While some price corrections are possible, he doesn’t think they will lead to a bear market. Instead, he sees this as the start of greater market activity driven by growing retail and institutional interest.

Bitcoin has a long way to go

Bitcoin’s recent rise to a new all-time high above $90,000 has sparked optimism. After a brief profit-taking, the crypto asset appears to be flirting with this milestone. As such, ARK Invest CEO Cathie Wood believes Bitcoin has “a long way to go.”

In a recent interview, Wood noted that ARK Invest first invested in Bitcoin at $250 in 2015, and even at $90,000, he remains optimistic. She attributes its impetus to increased regulatory clarity under the current US administration.

The executive also added that Bitcoin is emerging as a distinct asset class. Institutions are recognizing its unique behavior compared to traditional investments, which has successfully driven its wider adoption and allocation. She expects the price of BTC to reach $650,000 by 2030.

Quinn Thompson, the founder of crypto hedge fund Lekker Capital, echoed a similar sentiment that Bitcoin is just getting started and even predicted that it would soon hit the long-awaited $100,000 milestone. While he’s confident that will happen by the end of the year, he also believes it could happen by the end of this month. Speaking to Fortune, Thompson said:

“The market is realizing the huge regime change that is taking place. The US government and regulatory bodies, the strongest entities in the world, are now moving away from an anti-crypto stance to one of hug”.

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