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Debashree Patra
Debashree Patra
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- Dec 27, 2024 07:00 UTC
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When Will Bitcoin Price Hit $117,000? Timeline Revealed!
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BTC $ 84,488.28 (0.52%) 
Bitcoin experienced a significant price surge, reaching nearly $100,000, but quickly declined.
The upcoming Bitcoin halving in 2024 is expected to drive prices, with analysts like Dan Morehead predicting a potential price of $117,000.
In addition to the halving, macroeconomic and political factors are expected to influence Bitcoin's price trajectory.
Bitcoin surged to $99.8K yesterday, only to drop to $95,484, losing the gains from the Christmas rally. Despite this decline, traders remain optimistic, with many speculating that Bitcoin could hit $110K to $117K. However, Santiment notes that Bitcoin tends to reach $110K when it’s least expected. While Bitcoin has fallen recently, the market continues to be optimistic about its long-term potential.
But are these targets being overhyped? What’s the realistic price Bitcoin could reach in the upcoming bull market? Let’s take a look at insights from top analysts.
Dan’s Bitcoin Prediction 2025
Dan Morehead, CEO of Pantera Capital, predicts Bitcoin could hit $117,000 by August 2025. His forecast is based on Bitcoin’s historical price patterns around halving events, which happen every four years. The halving reduces miners’ rewards, and Morehead points out that Bitcoin’s price usually begins to rise about 400 days before the halving and peaks around 480 days after the event.
The last halving occurred in April 2024, cutting the miner reward from 6.25 BTC to 3.125 BTC. Morehead believes Bitcoin will follow this trend and reach $117,000, which would be a 22.53% increase from its current price of $95,484.
Macro Factors Can’t Be Ruled Out…
In addition to the halving, Morehead considers broader macroeconomic conditions and political factors that could push Bitcoin’s price higher. He believes these external forces will contribute to Bitcoin reaching $117,000 by mid-2025.
His prediction comes during a period of strong growth for Bitcoin, with many investors watching the halving closely for signs of continued bullish momentum. If Bitcoin follows its usual pattern, the next few months could bring significant price gains.
Could Bitcoin Soar to $500K? Trump’s Proposal Fuels Speculation
Pantera’s bullish outlook is shared by others in the market. Matt Hougan, CIO of Bitwise, recently suggested that Bitcoin could skyrocket to $500,000 if Donald Trump’s plan to create a national Bitcoin stockpile takes off.
This idea, first introduced at the Bitcoin Conference earlier this year, has sparked widespread interest. Some believe other countries might follow the U.S. lead, especially since Japan has rejected the Bitcoin Reserve plan. This could give the U.S. the chance to establish itself as a global leader in Bitcoin.
Perianne Boring, CEO of the Digital Chamber, has also joined the ranks of Bitcoin bulls, predicting that Bitcoin could reach $800,000 under Trump’s leadership.
Dips as Opportunities: Caution Advised!
With Bitcoin on the rise, analysts see short-term dips as great buying opportunities, much like MicroStrategy is doing right now. However, experts warn that if Trump’s policies face delays due to political disagreements, a market crash could follow
Bitcoin’s future is uncertain, but predictions remain bold. While the market is optimistic, only time will tell how high Bitcoin can climb—and how soon it will get there.
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FAQs
At the time of writing, 1 Bitcoin value was $96,347.80.
As per Coinpedia’s BTC price prediction, 1 BTC could peak at $169,046.
In 2030, the price of 1 Bitcoin could reach a height of $610,646.
Yes 
No 
