As a seasoned crypto investor with a decade of experience navigating the digital asset landscape, I can confidently say that the recent surge of Bitcoin past the $100,000 mark is a testament to the growing acceptance and maturity of this revolutionary technology. The nomination of pro-crypto figures like Paul Atkins as SEC Chair under President-elect Trump is a positive sign for the future growth of the crypto industry in the United States.
On the day following Donald Trump’s appointment of pro-cryptocurrency supporter Paul Atkins as the new chair of the U.S. Securities and Exchange Commission (SEC), the price of Bitcoin (BTC) surpassed the $100,000 mark.
On December 5th, the leading cryptocurrency experienced an increase of up to 4.95%, setting a fresh peak at approximately $103,640. This surge has pushed its total gains since President Trump’s re-election in the US to surpass 50%.
As a crypto investor, I’m excited about the rising expectations that Bitcoin could surpass the $100,000 milestone. However, I find myself pondering – just how high might Bitcoin climb in the near and mid-term future?
Bitcoin price will climb to $146K — analyst
Ki Young Ju, the CEO of CryptoQuant, believes that the recent record-breaking price of Bitcoin can be attributed to a significant influx of new funds entering the market.
Ki emphasizes that the surge in Bitcoin’s Realized Cap, which calculates the aggregate worth of all coins considering their most recent transaction, is a significant contributor to the upward trend in the maximum price, symbolized by the red line on the graph.
Over a 30-day period, as the actual value of the cap rose, the maximum price soared from $129,000 to $146,000,” observed Ki, further noting.
“At $102K, it’s far from a bubble—it would need a 43% surge to hit the threshold often considered a bubble.”
Based on its past behavior and the application of Fibonacci extensions, Bitcoin might be heading towards a potential price range of $150,000 to $154,000.
In earlier market phases, the value of cryptocurrency often surpassed the 1.618 Fibonacci extension threshold and moved towards higher levels like 2.618 and beyond.
On December 5th, Bitcoin reached and exceeded the 1.618 mark, roughly equating to $101,562. Currently, it’s hovering around $102,000. This surge indicates that the next significant target might be the 2.618 level, approximately $154,250.
Bitcoin price will double — Bernstein analysts
According to predictions made by the analysts at Bernstein, it’s expected that the value of Bitcoin could soar up to $200,000 by the end of 2025. This projection is primarily influenced by two factors: the emergence of regulatory clarity and a significant increase in institutional adoption.
Under President-elect Trump, it’s anticipated that the appointment of cryptocurrency supporter Atkins as SEC Chair could mark a shift away from the “enforcement-led regulation” approach, thereby encouraging US advancements in blockchain technology and wider adoption of digital assets.
As an analyst, I underscore the commodity nature of Bitcoin, emphasize the potential for Exchange-Traded Fund (ETF) approvals, and note the increasing institutional interest. Notably, financial giants like BlackRock are managing approximately $50 billion in Bitcoin ETFs, while MicroStrategy holds more than $40 billion worth of Bitcoin.
According to Bernstein, it’s predicted that Bitcoin could surpass gold as the leading “asset for storing value.” This means that Bitcoin might become a common addition in institutional investment portfolios and corporate cash reserves.
$250K Bitcoin price possible by 2025 — Tom Lee
According to Tom Lee, the founder of Fundstrat Global Advisors, it’s possible that Bitcoin could climb to $150,000 as early as next year if its 2023 price trend is repeated, and by 2025, it might even reach $250,000.
On Nov. 29, Lee highlighted Bitcoin’s price cycles tied to block subsidy halvings as a key driver.
He pointed out that “the ideal point” will appear when the reductions in supply become noticeable from late this year and continue into the following one.
Lee is quite confident, referring to reaching $250,000 within a year as “very likely” given past market trends and cycles.
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2024-12-05 19:20