Duong Sees Bitcoin Price Surge Past $100K by Year-End

David Duong, former Head of Institutional Research at Coinbase, predicts that Bitcoin's price will surpass $100,000 by year-end. Currently trading at $77,129.12, up 22.8% over the past week, Duong attributes this optimistic outlook to a shift in investor base, with exchange-traded fund flows increasingly dominating.

Duong pointed out that retail-driven interest has given way to institutional investors, partly due to lower costs and reduced custody concerns following a recent self-custody security incident. This dynamic, he believes, will strengthen heading into the end of Q3 and start of Q4.

The upcoming Senate procedural vote on the Clarity Act, rescheduled for September 15, is also seen as a potential catalyst by Duong. Although market expectations are low, with approximately 20% odds of passage, he suggests that a surprise outcome could serve as a significant positive catalyst.