Originally published on: November 21, 2024
Bitcoin has made history by crossing $98,000 for the first time, fueled by rumors of a dedicated White House position for cryptocurrency policy under President-elect Donald Trump’s team. The latest surge has pushed BTC’s price to a record high of $98,367, with market capitalization hitting $3.17 trillion.
Speculation is rife that Bitcoin could hit $100,000 by the end of 2024, with analysts predicting even higher prices for 2025. Projections of $200,000 by 2025 are fueled by institutional demand, positive regulatory shifts, and investments from companies like MicroStrategy, planning to acquire $42 billion worth of Bitcoin over three years.
Moreover, Senator Cynthia Lummis has proposed a bill to create a national Bitcoin reserve, potentially investing over $100 billion in the cryptocurrency. While the outlook for Bitcoin is bullish, there are cautionary signs of a potential correction. Historical patterns suggest that Bitcoin could peak around $150,000 in 2025 before seeing a significant pullback.
If current trends continue, Bitcoin may face a correction after reaching the $100,000 milestone, with potential support levels at $60,000. However, this could present a buying opportunity for investors eyeing the $100,000 level once again by the end of 2025.
While Bitcoin’s trajectory remains uncertain, it’s essential for investors to conduct thorough research and make informed decisions. Stay updated on the latest market trends and investment opportunities to navigate the crypto landscape successfully. Don’t miss out on potential insights and expert analysis – subscribe to the Markets Outlook newsletter today!
