Will Bitcoin Reach $100,000? Crypto Experts Share Their Price Predictions
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Bitcoin is Setting Records
Bitcoin is setting record after record on a huge post-election run, and its price is now getting into the vicinity of $100,000 — an achievement that would be one of the biggest milestones in cryptocurrency history.
Why is bitcoin’s price surging?
The crypto industry and President Joe Biden’s administration have battled over regulation and clashed in the courts. Vice President Kamala Harris, who ran against Trump, didn’t give crypto issues top billing in her campaign, leading some to fear a continued crypto crackdown if she won.
Trump, on the other hand, courted the crypto world during his campaign and received major donations from industry executives. Trump and his sons are also involved with a crypto venture of their own: a token called World Liberty Financial.
With his victory, investors have newfound optimism knowing the next presidential administration is likely to take a pro-crypto approach. Changes in leadership at the Securities and Exchange Commission and other government agencies could mean less regulation and oversight of cryptocurrency, for example.
Predictions for Bitcoin’s Future
Crypto insiders are now getting excited about the possibility of six-digit bitcoin pricing, which many see as imminent. But with the volatility of an asset like bitcoin, there’s still an awareness that nothing is guaranteed.
“A rally towards $100,000 by early to mid-December is plausible, potentially followed by a typical market correction as investors rebalance and take profits,” Martin Leinweber, digital asset researcher at MarketVector Indexes, told Money.
Ryan Rasmussen, head of research at Bitwise, writes in an email: “Investors are seeing the headwinds that crypto has been fighting for years suddenly dissipate. In many instances, the headwinds (like an adversarial SEC and anti-crypto administration) are shifting to tailwinds, set to propel the industry forward for the next four years.”
Markus Thielen’s Prediction
Markus Thielen, CEO of the cryptocurrency research company 10x Research, has predicted a $100,000 value for bitcoin by Christmas.
“With Trump’s inauguration scheduled for Jan. 20, 2025, the market is likely to anticipate his follow-through on crypto promises,” including a transition to a less aggressive regulatory framework, he wrote in a brief.
History of Bitcoin’s Price Surges
A year ago, bitcoin was trading around $37,000. Prices have surged over 150% since then, hitting $40,000 on Dec. 3, 2023, $60,000 on Feb. 28 and $80,000 on Sunday. The overall crypto market cap surpassed $3 trillion earlier this week for the first time since 2021.
Given this pace, Rasmussen is looking beyond a $100,000 price target and predicts bitcoin trending to $200,000 in 2025. However, buying bitcoin at high valuations has backfired for many investors in the past, and large price swings in the other direction are possible given the asset’s extreme volatility.
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