2024 has been a great year for Bitcoin, with the cryptocurrency market reaching new heights. In late 2024, Bitcoin hit the $100K mark, creating a wave of excitement across the crypto industry. Over the past year, the market has grown by an impressive 85.8%. Right now, Bitcoin is priced at $96,160.29. But as 2025 approaches, the big question is: what’s next for Bitcoin?
While the market seems a bit quiet at the moment, the real story is just beginning. Keep reading to find out what some of the biggest names in crypto are predicting for Bitcoin’s future.
In the last 30 days, Bitcoin has dropped by 6.8%. Despite the current lull, a recent post from Mike McGlone, a well-known commodity strategist, suggests that Bitcoin could either rise to $150,000 or fall to $50,000 this year. McGlone’s analysis doesn’t just focus on Bitcoin’s price – it also explores how these price changes could affect inflation, stock markets, and Federal Reserve policies.
McGlone believes that if Bitcoin reaches $150,000, it could push U.S. stock market wealth to around $12 trillion. This kind of growth could cause higher inflation, which would likely prompt the Federal Reserve to raise interest rates in an effort to control inflation.
On the other hand, McGlone suggests that if Bitcoin falls to $50,000, it could lead to deflation. In a deflationary environment, the Federal Reserve would likely respond by lowering interest rates to encourage spending and economic growth.
An interesting trend has emerged recently: Gold has risen by 10% since Bitcoin first hit $100,000. This suggests that many investors are moving away from high-risk assets like Bitcoin and shifting their focus to safer assets like gold.
At the start of 2024, the price of gold was $2,623.70. Since then, it has increased by 10.49%. Meanwhile, Bitcoin’s price has grown by just 2.78% in the same period.
Bitcoin started the year at $93,681.76. The market saw a strong start in January with a 9.21% increase in the first six days. However, between January 7 and 9, Bitcoin’s price dropped from $102,219 to $92,474.80. From January 10 to 21, Bitcoin rebounded with a 14.63% rise. In the past week, Bitcoin has fallen by 1.5%, and in the last 24 hours, it has dropped another 1.2%. As of now, Bitcoin is priced at $96,160.29.
The year ahead promises plenty of surprises, but one thing is clear: Bitcoin’s path will continue to be one to watch closely.
Bitcoin has dropped due to market correction, with recent trends showing a 6.8% decline in the last 30 days amidst volatility.
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