Bitcoin (BTC) a digital gold is a trending topic. Everybody wants to know, how high can Bitcoin value go?, or Is Bitcoin a good investment? Where we see Bitcoin at the end of 2024, 2025, or after 10 years.
Bitcoin: Digital Gold
Bitcoin is a decentralized cryptocurrency. Satoshi Nakamoto first brought this to the world in 2008 through white papers. This was the first ever known cryptocurrency. According to Satoshi Nakamoto, Bitcoin was created so that all payments from one party to another would be made without the involvement of any financial institution. In January 2009, Satoshi mined the first ever block on the Bitcoin network known as Genesis block. At that time Bitcoin’s value was $0. Bitcoin is mined through sophisticated software and hardware that requires a lot of energy to run its program, which is called the mining process.
What is the total circulation of bitcoin in the cryptocurrency market and its Market value?
Maximum circulation limit= 21,000,000
Current circulation= 19,744,128
Market Capital= $1,249,795,728,668
How high can Bitcoin value go?
Currently, bitcoin is forming a cup-and-handle format pattern which is historically bullish. In 2016, Bitcoin also formed the same ‘a cup and handle format’ pattern which resulted in a massive bullish trend. Bitcoin’s bullish trend is also a good sign for Alt-Coins. All crypto markets pump due to Bitcoin’s bullish pattern. A strong bullish pattern requires a consistent trading volume which requires investors’ persistent interest in Bitcoin.
Is Bitcoin a Good Investment?
With its vast magnitude, it allows cross-border consumers to participate in the world economy and financial system. It has legitimacy in the eyes of retail and institutional investors due to its largest secure database. The ease of transactions, its value appreciation, mostly tax-free transactions, and ease of funds transfer without the involvement of banks or financial institutions also contribute to Bitcoin’s superiority over other cryptocurrencies.
How high can Bitcoin go in 2024?
An all-time high price was recorded in April 2024 i.e. $73,777 since then it has been in a correction phase and currently hovering near 60k levels. Bitcoin is not performing well after the post-halving event. Analysts predict it will be between a range of $70,000-100,000 in mid-term. For the long-term period, analysts predict Bitcoin will be between $500,000-$1000,000 at the end of 2030. Some analysts even predict more bullish bitcoin prices in the future.
How much will 1 Bitcoin be worth in 2025?
Most analysts predict BTC can hit $500,000 in 2025 due to its increasing acceptability and reducing the dominance of USD-based transactions.
Can Bitcoin hit 1 million?
Yes, Bitcoin can hit the $1 million milestone but it requires a lot of patience and consistency both in the investor base and market. Cathie Wood, Ark investment management CEO predicts $1.8 million by the end of 2030. For the mid-run, bitcoin is required to break the resistance level of $73,000.
Also Read: Top 10 Best Crypto Coins Other than BTC
Future Prospects
All financial analysts are optimistic relating to the huge bullish pattern. The following are the factors that will affect future Bitcoin prices:
- Trading Volume: A high trading volume is required for bitcoin to pump. The volume of trading depends upon the demand of bitcoin. If demand is high, trading volume will be high.
- Exchange Traded Funds (ETFs): Bitcoin ETFs listing on stock exchanges also give a regulated and more accessible positive move to its price.
- Institutional investment: Nowadays, institutional investors are buying Bitcoin through ETFs on spot trading. Black Rock is the largest Bitcoin institutional investor in the world. A company like Micro Strategy holds 174,530 bitcoins. Tesla and Coinbase also hold a vast quantity of bitcoins. Black Rock launched a Bitcoin exchange-traded fund of $18 billion. Institutional investment in Bitcoin from Grey Scale, black rock, etc. is a strong sign of a bullish trend. On January 2024, 11 Bitcoin ETF applications were made to the US Security Exchange Commission. The introduction of such ETFs resulted in the Bitcoin price jump over $73,000. Historically that was one of the most successful ETFs in history due to large inflows of funds. It roughly attracted 16 Billion dollars of capital inflow into the market. The majority of such inflows were from the Black Rock IBIT fund.
- Strong economy: A strong world economy is required for the positive growth of cryptocurrency. US employment and interest rate data also affect Bitcoin prices. If the interest rate is lower, people will invest more in cryptocurrency to get more profit. The US economy mostly affects the crypto market. Economic Slowdown in the US, China, and Europe especially in the real estate sector raised real concerns among investors. The Chinese economy was recently hit hard by the slowdown in the real estate sector. American debt is also a concerning point.
- Political and regional stability will also be required: World conflicts affect badly to the world economy resulting in a loss of crypto capitalization. Conflicts in the Middle East, the Russian-Ukrainian war, and Israel-Palestine. These conflicts can go longer which is a bad sign for the Bitcoin surge.
