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· The cryptocurrency market recorded one of the harshest crypto winters in 2022.
· The price of Bitcoin is expected to skyrocket following the halving event in 2024
· The top cryptocurrency is expected to grace the $124,000 by the end of 2025.
As Bitcoin tries to cross the $22,000 threshold, market analysts are looking at what the “King” of cryptocurrency be worth in 2025. Predictions and insights are coming as BTC gained nearly 10 percent over the last 24 hours.
In 2023, the market started on the right foot after a brutal 2022 that nearly saw digital currencies being written off. But Bitcoin, having stood the test of time, has risen. Will Bitcoin help fellow cryptocurrencies make a swift recovery in 2023? Will it continue to reign? And what does 2025 look like for Bitcoin?
Let’s see what analysts and market watchers have to say:
Cold and Hot
Bitcoin is highly regarded as the digital gold that can overcome challenges. It has made some strong comebacks in its 14 years of existence. After a cold 2022, the current year seems warm and welcoming but not too cosy. BTC’s price prediction for 2023 is in the range of $23,218 – $43,959.19. Analysts believe a steady rise in volumes could drive the price towards $43,000, but it can also sink to as low as $23,218.
The Halving
With the next Bitcoin halving event expected to take place in 2024, the price is expected to rocket to the grand $100,000 mark. This prediction is not “a stray” as in 2020, when the last BTC halving occurred, the price increased by more than 556 percent within a year. But market watchers believe it won’t be a cakewalk as disruptions and instabilities will occur.
Bitcoin halving occurs every four years when the reward for Bitcoin miners is cut in half. This was integrated into Bitcoin’s mining algorithm to tackle inflation. Experts believe that the reduction in the pace of Bitcoin issuance means the price will increase, that is if the demand remains the same.
Scarcity Means More Investors
As for 2025, Bitcoin will most definitely attract more investors – owing to the fact that 2024’s halving will maintain the demand for the topmost cryptocurrency bust reduce its supply in circulation, thus creating a scarcity. This means there will be heightened demand but limited supply. Bitcoin price could grace the highs of $124,867.54 by 2025-end.
Not to dampen the enthusiasm, Bitcoin could end 2025 at $65,556. The bears shouldn’t be ruled out completely from the picture.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
