As predicted, Bitcoin’s price has crossed $100,000 before 2024 ends. The current price of Bitcoin is $103,118.73. Bitcoin has become the first cryptocurrency to cross the $100,000 mark. The sudden boost in Bitcoin prices resulted from the change in the political scenario of the United States and the expectation of easing cryptocurrency regulations under Donald Trump’s presidency.
Geoff Kendrick, global head of digital assets research at Standard Chartered, has said that this achievement became possible due to the increased institutionalization of the industry in 2024, especially as a result of the approval of Bitcoin exchange-traded funds (ETFs) earlier this year. The current price rise has happened as a result of the speculations that Donald Trump will start intense promotion activities and policy reversals to boost the state of cryptocurrencies as the major financial instruments of the country.
The price of Bitcoin had started to rise soon after the election results of the victory of Donald Trump came out. The current price is nearly 50% higher than the price of Bitcoins at the time of the election results. Trump’s proposed appointment of Paul Atkins as the chairman of the US Securities and Exchange Commission (SEC) is the immediate reason for Bitcoin’s price to rise over $100,000. The price was at a standstill just below $100,000 in the previous weeks, and this news of the appointment has come as a perfect boost for the same.
The price of Bitcoins has soared more than 139% this year, thanks to the change in the political scenario of the United States. It has achieved this mark after facing many roadblocks such as the collapse of FTX in November 2022. Some analysts are hopeful that Bitcoin has the potential to hit the $125,000 mark before 2024 ends and will reach $200,000 by the end of 2025.
Despite the hopeful situation, some analysts believe that the price of Bitcoin will fall to as low as $74,000. The chance of a pullback in the price is likely because Bitcoin’s price was at a stagnation point below $100,000 in the past weeks. The high volatility of the cryptocurrencies can also cause the price of Bitcoins to fluctuate.
Some analysts are also expecting the price to stoop as low as $45,000 and $60,000. However, cryptocurrencies are sure to rebound to unexpected highs given their potential and the conducive market.
Also read: Bitcoin’s 2025 Bull Run: What Are The Predictions Of Experts?
Bitcoin Price Prediction
The price of Bitcoin is expected to rise to immense highs in the next few years. In 2025, the Bitcoin price is expected to reach a high level of $ 177,384. In 2026 and 2027, the price may see a slight decline. There are chances that the Bitcoin price may fall to a low rate of $ 89,217 in 2026 and $ 76,419 in 2027. The price will again climb to a high point of $ 139,061 in 2028. 2029 will be a year of huge price strides for Bitcoin. The price of Bitcoin may fall in the range of $ 136,962–$ 305,028 with a high ROI of 194.88%. In 2030, the price may fall slightly, compared to the previous year’s price, it will be at the highest at $ 287,841.
The technical analysis data has reported a highly bullish market for Bitcoin in the coming years. According to the available data, 28 technical analysis indicators are showing bullish signals against just 2 technical analysis indicators showing bearish signals.
Many positive points to contribute to the price rise of Bitcoins have been identified. Over the last 1 year, the price of Bitcoin has increased by about 136% and Bitcoin has outperformed a majority of the top 100 cryptocurrencies in the market including Ethereum. Bitcoin has been trading at a price well above the 200-day simple moving average of $ 67,257. 19 out of the last 30 days had shown greenish trading signals for Bitcoin, which is also an indication of Bitcoin’s potential price rise. With a market capitalization of $ 2.04T and being ranked as the number one cryptocurrency in terms of market capitalization, Bitcoin’s high liquidity in the market also contributes to its price rise.
