Due to restricted supply of the most popular cryptocurrency in the world and improved trading accessibility, Bitcoin achieved a new height on Tuesday, surpassing $69,000. The price of it increased to $69,191.94, above its November 2021 top of $68,991. Investor money flowing into U.S. spot exchange-traded cryptocurrency products and the anticipation of future declines in global interest rates drove this increase.
Investor interest surged after the Securities and Exchange Commission approved 11 spot Bitcoin ETFs in late January. However, there was a following collapse in the market, and BTC was trading at lower prices.
With Bitcoin starting to soar, will the most popular cryptocurrency eclipse its previous high of $69,191? This piece will dive into a price prediction, exploring the possible highs that BTC could hit in the upcoming year or longer.
Bitcoin (BTC) Growth Outlook
The incredible 160% increase in Bitcoin since October, including a startling 44% leap in February alone, stands in stark contrast to the 2022 crypto winter.
Finder‘s team of cryptocurrency experts believes that BTC could rise above $69,044 in the future. Based on Finder’s study, Bitcoin might reach a maximum value of $87,125 at some point in 2025. From its present value of $65,000, this prediction shows a possible increase of almost 35%, providing investors with a favorable return on investment (ROI).
Therefore, if Finder’s prediction comes to pass, a $10,000 investment made today would potentially earn $13,500. In determining its price estimate, Finder’s methodology heavily weighs Bitcoin’s past performance as well as the impending halving event. Furthermore, this month saw a further climb in the market value of Bitcoin beyond the $1 trillion mark.
The rebound in the value of BTC and the cryptocurrency market as a whole can be ascribed to the expectation of a possible rate cut by the Federal Reserve in addition to higher demand from a wider range of investors. These actions frequently cause investors to reallocate funds to investments with better yields or more volatility.
Analysts believe that in the run-up to the planned halving event in April, there has been a noticeable increase in interest in bitcoin in particular. This four-year cycle is characterized by a decrease in both the rate of token release and the incentives that miners receive.