tl;dr
In October 2023, BTC surpassed resistance at $30,000 and reached over $60,000 in 2024. It then surged in October 2024 and hit a record high of $109,000 on Jan. 20, 2025, before correcting to below $77,000. Bettors at Polymarket placed 61% odds on BTC reaching $110,000 in 2025, with a 68% chance of i...
Bitcoin has seen a remarkable journey in recent years, overcoming resistance levels and reaching new heights. In October 2023, it surpassed resistance at $30,000 and continued to soar, supporting above $60,000 in 2024. It hitched to Trump's coattails in October 2024 and surged to a historical high of $109,000 on January 20, 2025, before correcting to below $77,000.
Polymarket bettors have placed 61% odds on BTC reaching $110,000 in 2025, while also betting on a 68% chance of a crash to $70,000. Financial tech companies forecast Bitcoin's market capitalization to continue rising through 2030.
Several financial institutions and analysts have made bullish predictions for Bitcoin. Standard Chartered's crypto analyst expects Bitcoin's price to top $200,000 in 2025 and $500,000 by 2029, with the anticipation of more traditional financial players entering the market. Bank of America expects Bitcoin to revolutionize finance, willing to adopt it pending regulation and expecting a dovish turn by the Federal Reserve to boost Bitcoin's price.
Morgan Stanley aims to offer crypto payment rails pending regulatory approval, as the SEC seeks regulatory clarity for crypto. Block CEO predicts a $20 trillion market cap and a $1 million price for Bitcoin by 2030, while Coinbase CEO expects Bitcoin to surpass gold's market cap and reach a million dollars per BTC, aiming for a Bitcoin standard for money. BlackRock owns over half a million BTC and predicts Bitcoin's price could rise to $700,000, with Ark Invest foreseeing Bitcoin prices reaching $1.5 million by 2030.
These projections are based on factors such as regulatory developments, interest rate cuts, and the institutionalization of the crypto industry, indicating a positive outlook for Bitcoin's future.