When it comes to price predictions, no cryptocurrency attracts more interest than the undoubted crypto king: Bitcoin. It’s been a rollercoaster 12 months for those interested in Bitcoin. After years in the gloomy depths of a bear market, things are starting to look a lot more promising. But how promising can things get for the world’s biggest cryptocurrency? Here’s our prediction for the next 18 months.
Reasons to be bullish on Bitcoin
There are many reasons to be optimistic about both the short and long-term future of Bitcoin. The first half of 2024 has provided us with many reasons to be bullish on BTC as we head into the second half of the year and beyond.
Increased sentiment from ETF: The long-awaited approval of the Bitcoin ETF finally came through in January this year. While many BTC holders were hoping for an immediate price surge, this didn’t happen. However, this doesn’t mean the impact won’t be felt further down the line. Bitcoin’s entrance to the more traditional finance world could slowly but surely enhance sentiment around Bitcoin from those who have previously been wary, increasing the pool of buyers and subsequently driving the price up.
Increased crypto use cases: As the blockchain space matures, advocates increase, new use cases emerge and more places accept Bitcoin as a form of payment. In the early days of crypto and blockchain, use cases were often novelty and often didn’t focus on enhancing our everyday lives. Now, solutions are starting to be presented in the form of businesses, with blockchain and crypto projects having the ability to be profitable and enhance experiences.
Improved market conditions: 2024 has already signalled the end of over two years of red. The bear market which began towards the end of 2021 has been felt far and wide by those in the crypto space. But whether you’re a retail investor, crypto founder or just a general advocate for decentralised technologies, things are looking up. 2024 has already seen new ATHs and with that comes hope of more record highs to follow.
Reasons to be bearish on Bitcoin
Despite all the good news, as always there are still reasons to be cautious when it comes to price predicting.
Buy the rumour, sell the news: Whenever the masses start to talk about the price of an asset going up, be cautious. The current feeling is that Bitcoin will go on a tear in the coming months and years, but reality can often go against the rumour. This isn’t exclusive to the crypto market either, the same can be said for traditional stocks and shares and the saying ‘buy the rumour, sell the news’ is one that has been proved to be right many, many times before.
No more cycles?: Bitcoin cycles have been a common feature of the crypto world. Often it’s around two years of ups followed by around two years of downs, with traders tasked with identifying the right moment to enter or exit the market. But cycles don’t last forever, and with the end of each cycle comes the risk that it could’ve been the last. As most expect the price of BTC to surge in the coming months, be aware that the currency may have reached its final correction.
Bad actors are still prevalent: Since Bitcoin and crypto burst into our lives, a select few have tried to exploit the technology for personal gain. Hacks and crypto scams are rife in crypto, and each bull market brings fresh targets for scammers to exploit. Unfortunately, no matter how promising things are in the space, we are only one major hack away from the market coming crashing down at any moment.
Bitcoin price prediction 2024-2025
Most experts believe that Bitcoin is set for a meteoric rise over the next 18 months, with the common belief that we are currently at the start of a lucrative bull run.
It’s fair to say an ATH is expected in the second half of 2024, with traders hoping for BTC to finish the year above $70,000. A value between $70,000 and $80,000 would appear to be a fair estimate.
Looking towards 2025 Bitcoin predictions, the general sentiment is even more bullish. There’s a real belief that BTC could even have hit six figures before the end of next year, with a $100,000 valuation becoming increasingly real.
It’s important to note that predictions can massively vary from one opinion to the next. While many are predicting highs of above $100,000 next year, the likes of Cryptonewsz.com predict BTC could go as low as $39,512 in 2025.
As always, it’s important to remember that nobody knows where the market is heading and investors should always do their own research before parting with their cash. Furthermore, the contents of this article should not be considered investment advice.
Disclaimer: This content represents the authors personal perspective and is subject to changes in market conditions. Always do your own research before investing in cryptocurrencies. The author and the publication are not accountable for any financial losses you may face.
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