Don't miss it! Can Bitcoin reach $117,000 in the coming months? What you should know!
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Bitcoin surged to $998,000 yesterday, but then quickly fell back to $95,484, erasing the Christmas gains. Despite this, market traders are generally bullish, speculating that Bitcoin is expected to break through $110,000 to $117,000. Bitcoin may achieve this one goal, and what is the realistic goal? Let's hear from analysts.
Dan Morehead, founder of Pantera Capital, predicts that the price of Bitcoin may reach $117,000 by August 2025. He made this prediction based on the historical trend of Bitcoin's halving event every four years. Morehead said that the halving will reduce the rewards for miners, and usually the price of Bitcoin will start to rise about 400 days before the halving and reach its highest about 480 days after the halving.
The last halving took place in April 2024, with miner rewards going from 6.25 BTC to 3.125 BTC. Morehead believes that following historical patterns, the price of Bitcoin will climb to $117,000 in the next few years, up 22.53% from the current earlier price of $95,484.
In addition to the halving effect, Morehead also considers macroeconomic and political factors that may also drive Bitcoin prices higher. He expects these factors to push Bitcoin to its target of $117,000 by mid-2025.
Morehead's prediction comes against the backdrop of Bitcoin showing strong growth, and investors are closely watching the halving for bullish signals. If Bitcoin follows historical trends, a significant surge could occur in the coming months, taking a peak.
Antera's optimistic prediction is consistent with some other bold views. Bitwise CIO Matt Hougan recently said that if Donald Trump implements a national Bitcoin reserve plan, the price of Bitcoin could break $500,000. The proposal, which was announced at a Bitcoin conference earlier this year, has attracted widespread attention, with some suggesting that other countries may follow the United States’ lead.
Meanwhile, Perianne Boring, founder of the Chamber of Digital Commerce, also believes that Bitcoin could break $800,000 under Trump.
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