**Bitcoin Could Hit $100,000 by Year's End, Say Kalshi Bettors**

Bitcoin is showing strong bullish momentum as it nears record levels, with the last trading figures just under $89,000. According to Kalshi, a prominent event contract market, a significant 60% of its users are betting that Bitcoin will break the $100,000 mark by January. Even more optimistically, 45% of bettors believe this milestone might be reached as soon as November.

Kalshi, which burst onto the scene in 2021, allows users to wager on event outcomes, ranging from economic data releases to election results. This year, the platform cemented its reputation by engaging in a legal battle with the Commodity Futures Trading Commission, which eventually led to betting markets for the U.S. presidential election being available to American users.

The recent surge in Bitcoin's value, up over 28% since the U.S. presidential election on November 5, is largely attributed to the perceived positive impact of the election results on the cryptocurrency market. President-elect Donald Trump's supportive stance on the crypto industry and his plans for more favorable regulations have fueled bullish sentiments.

Mike Colonnese, an analyst at H.C. Wainwright, emphasizes Bitcoin's upward trajectory, predicting continued strong positive sentiment through the remainder of 2024. "Bitcoin is now in price discovery mode after breaking through all-time highs early last Wednesday morning when it was officially declared that Trump won the election."

Kalshi’s bettors' confidence in Bitcoin’s future growth comes as the cryptocurrency navigates uncharted territory, bolstered by significant political and market developments.