As of today, October 29, 2024, Bitcoin (BTC) is trading at around $73,032. This marks a notable uptick in price, reflecting a 4.69% increase in the last 24 hours. The market sentiment remains generally optimistic, driven by Bitcoin's recent all-time high earlier this year at over $73,700. Several key factors, such as the recent approval of Bitcoin spot ETFs by the SEC and the April 2024 halving event, continue to sustain this upward momentum.

Experts predict that Bitcoin could maintain its growth trajectory for the rest of 2024 and into 2025, with projections indicating that the price might reach between $76,000 and $85,000 by early next year. In the longer term, optimistic analysts are expecting a peak price in the range of $150,000 to even $250,000 by mid-2025. These forecasts are based on historical post-halving trends and Bitcoin's scarcity-driven supply model.

However, external factors, such as regulatory changes and macroeconomic shifts, could influence the price direction. Concerns around Bitcoin's energy consumption and evolving anti-money laundering regulations remain as potential challenges.