Bitcoin has seen a massive surge in recent months, jumping from less than $70,000 to nearly $110,000, setting a new record in the six-figure range.
With its value nearly doubling in six months and currently trading at more than 100% of its value a year ago, the outlook for Bitcoin’s price remains a focus for analysts.
Bitcoin’s bullish outlook:
- Many analysts expect Bitcoin’s bullish momentum to continue into 2025, driven by several key factors, including:
- The re-election of Donald Trump and the appointment of a new crypto-friendly SEC chairman.
- Congressional plans to adopt Bitcoin as part of the National Strategic Reserve.
- Continued demand for Bitcoin as the mining network expands and the currency’s supply is limited.
- Increased supply of dollars as the US budget deficit continues to record.
Experts' predictions for the price of Bitcoin in 2025:
- Aquinas Wealth Advisors analysts: Bitcoin price expected to reach $130,000
- Christopher McMahon, the company's CEO, believes that institutional adoption of cryptocurrencies will be the main driver for Bitcoin price to rise to $130,000.
- Motley Fool analysts: Bitcoin price will reach $200,000
- According to Motley Fool analysts, Bitcoin may reach $200,000, driven by increasing global investment in cryptocurrencies and governments and companies adopting blockchain technologies.
- BlackRock analysts: Bitcoin price will reach $700,000
- BlackRock CEO Larry Fink offers the most optimistic prediction, as he believes that Bitcoin price may reach $700,000 if major hedge funds allocate between 2% and 5% of their investments to cryptocurrency.
