How high can Bitcoin price go?
2024.12.05 11:22
Bitcoin (BTC) price crossed the $100,000 milestone a day after President-elect Donald Trump picked pro-crypto opponent Paul Atkins as the next chairman of the United States Securities and Exchange Commission (SEC).
On Dec. 5, the top cryptocurrency rose by as much as 4.95% to establish a new record high of around $103,640, bringing its net returns since Trump’s reelection as the US president to over 50%.
Most analysts are now anticipating Bitcoin to continue its uptrend beyond the $100,000 mark. But how high can Bitcoin go in the short to medium term?
Bitcoin price will climb to $146K — analyst
Ki Young Ju, CEO of CryptoQuant, attributes Bitcoin’s price milestone to “fresh capital” flooding into the market.
Bitcoin ETF cumulative inflows performance chart. Source: Farside Investors
Ki points to the rise in Bitcoin’s realized cap—a measure of the total value of all coins based on their last movement—as a key factor driving the increase in the ceiling price, represented by the red line on the chart.
Bitcoin price prediction based on realized cap. Source: CryptoQuant
“As the realized cap grew, the ceiling price increased from $129K to $146K in 30 days,” noted Ki, adding:
“At $102K, it’s far from a bubble—it would need a 43% surge to hit the threshold often considered a bubble.”
Source: X
Bitcoin could also be on track to reach $150,000-$154,000, based on its historical performance and Fibonacci extensions.
In previous cycles, the cryptocurrency consistently broke past the 1.618 Fibonacci extension level before advancing toward higher extensions, such as 2.618 and beyond.
BTC/USD weekly price chart. Source: TradingView
As of Dec. 5, Bitcoin has surpassed the 1.618 level at approximately $101,562, aligning with its current price of around $102,000. The breakout suggests that the next major milestone could be the 2.618 level near $154,250.
Bitcoin price will double — Bernstein analysts
Bernstein analysts project Bitcoin will reach $200,000 by late 2025, driven by regulatory clarity and institutional adoption.
The nomination of crypto advocate Atkins as SEC Chair under President-elect Trump is expected to end the “regulation by enforcement” era, fostering US blockchain innovation and broader digital asset acceptance.
Source: X
They highlight Bitcoin’s commodity status, spot ETF approvals, and growing institutional adoption, with firms like BlackRock managing $50 billion in Bitcoin ETFs and MicroStrategy holding over $40 billion in BTC.
Bernstein believes Bitcoin will replace gold as the top “store of value” asset, integrating into institutional portfolios and corporate treasuries.
$250K Bitcoin price possible by 2025 — Tom Lee
Bitcoin could reach $250,000 by 2025, with $150,000 achievable next year by replicating 2023’s price action, according to Tom Lee, co-founder of Fundstrat Global Advisors.
Related: 3 signs Bitcoin’s ‘parabolic phase’ with a $250K target is about to begin
On Nov. 29, Lee highlighted Bitcoin’s price cycles tied to block subsidy halvings as a key driver.
Bitcoin price performances post halvings. Source: TradingView
“The sweet spot begins as supply cuts take effect toward the end of this year and into next year,” he noted.
Lee remains optimistic, calling $250,000 within 12 months “highly probable” based on historical price cycles.
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
