Bitcoin (BTC), the foremost cryptocurrency in terms of market capitalization, has garnered significant interest in the digital currency sphere, showcasing its resilience and significant market control. At present, its worth lingers just below the $34,000 threshold. The most recent forecast on Bitcoin’s price, as presented by experts in the field, is outlined in the latest report from finder.com, shedding light on prospective developments in the cryptocurrency’s value.
Bitcoin’s Future: Analysts Forecast $87,000 by 2025
The report, titled “Bitcoin’s Potential: Reaching $87,000 by 2025,” provides an in-depth examination of potential BTC price trajectories, consolidating insights from 31 experts and industry insiders. Within the report’s context, these experts discuss the possibility of a spot BTC exchange-traded fund (ETF) gaining regulatory approval. A significant 47% of these experts believe that such approval could propel Bitcoin to unprecedented heights.
Additionally, around 60% of the participants anticipate the approval of a spot Bitcoin ETF by 2024. The collective opinion among those surveyed suggests that Bitcoin’s value will end 2023 at $30,000 per unit, ultimately surpassing its previous all-time high of $69,000 and reaching a value of $87,000 by 2025. Mitesh Shah, the founder of Omnia Markets, envisions BTC concluding the year at $35,000 and projecting its value to rise to $105,000 by 2025. Shah represents the 20% of those surveyed who anticipate ETF approval within the current year. He remarked, “There is a growing consensus that the SEC will eventually approve a Bitcoin ETF, with Blackrock’s application being the most likely candidate.”
The CEO of Omnia further added: ‘The approval of any bitcoin ETF would open the floodgates for institutional investment, and the announcement of such approval would likely result in an immediate spike in BTC’s price.’
The upcoming BTC halving event in 2024 is highlighted as a pivotal moment in Bitcoin’s history, with 57% of experts surveyed by Finder predicting a modest increase in its price leading up to the event. This anticipation aligns with a historical pattern where Bitcoin’s value has typically risen after halving events, attributed to the reduced rate of new BTC entering the market. Damian Chmiel, the senior analyst and editor at Finance Magnates, expects BTC to stabilize at $30,000 this year, with its value reaching $50,000 by 2025.
Chmiel expressed, “Next year’s halving could be a game-changing event for Bitcoin. I still believe that the digital asset will eventually reach new all-time highs and achieve a six-figure valuation.” While 57% of experts foresee a modest increase before the halving, 30% anticipate a more significant upturn, and 3% predict no price fluctuations leading up to the event.
The report also explores BTC’s global impact, emphasizing its role as a market leader and its influence on the broader financial landscape. Desmond Marshall, the managing director at Rouge International and Rouge Ventures, holds a less optimistic view than many of his peers. He attributes his bearish forecast to recent regulatory actions by SEC chairman Gary Gensler and concerns about a possible economic downturn. Marshall predicts that by 2025, Bitcoin’s value will be $35,000, mirroring its recent price trends.
“BTC remains the strongest cryptocurrency, so I don’t think the decline will be as severe as for other tokens,” Marshall remarked. “The halving event should provide some support, but U.S. policy interventions may prevent it from reaching astronomical levels.”
Notably, this latest Finder report takes a more cautious stance than its predecessors from the previous year, where some experts had predicted six-figure valuations for BTC. In conclusion, the report states that 66% of the 31 fintech and crypto specialists surveyed by Finder believe that the current moment is favorable for acquiring Bitcoin, while 24% advocate holding onto existing holdings. Approximately 10% of the experts recommend selling Bitcoin at this time.