Bitcoin Price Predictions: Will It Reach $100,000?
In 2021, there was a lot of anticipation that Bitcoin (BTC) would reach $100,000 during the bull market. However, it fell short of this mark. Nonetheless, there is a strong belief in the market that Bitcoin will surpass this magical barrier in the next bull run. Yoni Assia, the founder and CEO of eToro, shares this optimism. In an interview with prominent crypto figure Scott Melker, he explains his prediction and rationale.
When Will the Bitcoin Price Rise?
Assia expects that by the end of 2024, which is just over a year away, we can expect a new all-time high for the Bitcoin price.
“By the end of 2024, you will see significant price increases. We will gradually see the price climb to $50,000, then back to $40,000, and eventually reach $70,000. It is only when we reach the previous all-time high, somewhere at the end of next year, that private investors will return.”
Assia bases this prediction on the historical halving cycle of Bitcoin. According to this cycle, the Bitcoin price experiences a four-year cycle. Assia does not expect this cycle to be any different this time.
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“In theory, the bull run should occur in 2025. This was also the case in 2021, 2017, and 2013. That’s the cycle. However, there is a famous saying: ‘History does not repeat itself, but it certainly rhymes.’ So, I would be surprised if we do not see a price increase in 2025. I would also be surprised if we do not see Bitcoin at $100,000 by the end of 2025.”
The BTC Theory of CryptoCon
A few days ago, we also discussed an interesting Bitcoin model by CryptoCon, a well-known crypto analyst on Twitter. His theory aligns quite well with Assia’s predictions. CryptoCon suggests that we should focus on November 2024 as the moment when the BTC price will break through the current all-time high of $69,000. He also anticipates that 2025 will be when the real fireworks begin.
As we look ahead, it is crucial to track these predictions and observe how the market and the Bitcoin price respond in the coming years. While there are no guarantees, market experts like Yoni Assia remain confident that the Bitcoin price will reach new heights in the near future.