Eric Jackson (에릭 잭슨), chief investment officer at AI-based investment firm SRX Global, forecast bitcoin could reach $100,000 (about 140 million won) by year-end, Coinage reported on Sept. 30 local time.

In an interview with the outlet, Jackson said it was "on a trajectory toward $100,000 by year-end" and added, "Ignore the news headlines." He said bitcoin’s bullish breakout had become strong enough to persist despite a recent correction.

He pointed to SRX’s bitcoin model. The model combines correlations with assets such as interest rates, global liquidity and gold to divide the market into bullish, mixed and risk phases. It is designed to gauge direction over roughly 30-day periods rather than tomorrow’s price.

The model flashed a risk signal on May 26. Bitcoin was then around $77,000. SRX reduced exposure and bought downside protection. Bitcoin later fell to $58,000 and then traded sideways through the summer. It returned to a mixed phase around $62,000 on Aug. 14 and turned bullish a few days later. Bitcoin soon climbed above $70,000.

Jackson also dismissed the theory of a four-year bitcoin cycle. Calling it "an old myth that is not confirmed by the data," he said SRX did not incorporate it into the model. He said institutional participation, exchange-traded funds (ETFs) and macroeconomic factors now drive prices. He emphasised that "liquidity is more important than anything else."

Bitcoin, which peaked around $126,000 last year, stayed in a downtrend for several months. Jackson said that once it exits a downtrend, it does not immediately turn down again.

He also cited as a positive factor that Strategy’s perpetual preferred stock STRC, issued by the company holding the most bitcoin, recovered to around its $100 par value. STRC slipped to $72 this summer, but closed at $99.58 on the day. Jackson said Strategy had regained a funding channel and could continue buying bitcoin. He took a sceptical view of other companies that have followed Strategy’s approach.

SRX is pursuing a hedged multi-asset digital-asset treasury strategy through its in-house fund SRXH. Jackson said, "Why not build a model that predicts price direction and hedge?" He cited the 10-year U.S. Treasury yield and global liquidity as key variables.