As a seasoned researcher with over two decades of experience in financial markets, I have witnessed the evolution of digital currencies from their inception to the current state-of-the-art. The latest Bitcoin price predictions are nothing short of astonishing, especially considering its recent milestone of surpassing $100,000 for the first time.
According to recent predictions, the value of Bitcoin (BTC) in U.S. dollars is anticipated to increase by at least a quarter more by the year 2025.
The latest BTC price targets all favor six-figure Bitcoin becoming the norm over the next year.
Bitcoin price predictions unanimous on six-figures
On December 5th, Bitcoin reached a significant milestone for the first time by breaking through the $100,000 barrier. Along this journey towards its present record high of $103,800, it also achieved a market capitalization of $2 trillion.
Currently, analysts and market watchers are peering ahead, attempting to predict the potential maximum height that BTC/USD might reach in the future.
CryptoMoon examines several recently trending Bitcoin price forecasts, focusing on projections towards the close of 2024 and beyond.
ARK Invest: $124,000 BTC price minimum
Ark Invest, a prominent figure in asset management, has a history of optimistic Bitcoin (BTC) price forecasts. Currently, their theory suggests that the value of Bitcoin could potentially increase by an additional 25% relative to the U.S. dollar.
In a November blog post, the team which includes David Puell, the creator of the Puell Multiple, proposed a minimal price point of approximately $124,000.
Given bitcoin’s historical average or the typical trend following a halving event, by the end of 2024, its multiplier could range from approximately 2.48 times to 2.94 times, which would translate to a price of around $104,000 to $124,000.
As an analyst, I’ve noticed that ARK has made a significant mark this year by underscoring the surge of institutional interest in Bitcoin.
In summary, if more institutions adopt this emerging investment category and if the U.S. government considers integrating Bitcoin into its long-term holdings, we predict a robust finish in 2024 and sustained growth through 2025.
On December 5th, as stated in a recent post by Puell, Bitcoin has reached the bottom limit of its predicted range.
Traders eye levels toward $140,000
Popular crypto traders are also not without optimism when it comes to BTC price going higher.
Among them is Jelle, who now sees $130,000 as a potential next stop.
On December 5th, a graph was posted to X that indicates Bitcoin (BTC) against the US Dollar (USD) appears to be bursting from a bullish pennant pattern, having entered this pattern back in early November.
‘This bullish pennant has a target of $130,000,” he wrote in accompanying commentary.
“Breakout confirmed – send it higher.”
Previously, fellow trader Aksel Kibar proposed that the price of Bitcoin could reach its next major peak at approximately $137,000. Contrarily, he considered $100,000 as neither psychologically nor technically meaningful.
Prediction markets see Bitcoin “breakout rally”
When it comes to crowd consensus, Bitcoin is likewise tipped to keep climbing.
Based on forecasts by Kalshi, the projected average Bitcoin price at the end of 2024 is approximately $128,000.
According to the expert analysis from The Kobeissi Letter, there’s a 10% possibility that Bitcoin could surpass $150,000 before the end of this year. Remarkably, the projected price has increased by more than $50,000 over the past month.
“Prediction markets think this is a breakout rally.”
Regarding astronomical figures, on the other hand, another prediction platform, Polymarket, estimates that there’s only a 2% likelihood for Bitcoin to reach $250,000.
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2024-12-05 19:54