The price of bitcoin fell below $95,000 on Monday, virtually guaranteeing that the world's top cryptocurrency won't exceed its peak of $108,000 by the end of the year.
After Donald Trump's re-election in November, #MicroStrategy CEO Michael Saylor predicted that #bitcoin would reach $100,000 by the end of the year. That prediction has largely come true: in early December, bitcoin surpassed the $108,000 mark.
The bitcoin price is currently hovering around $94,000.Despite the recent pullback, market analysts remain optimistic about the #cryptocurrency in the new year. A #Bitfinex analyst predicts that bitcoin could reach the US$200,000 mark in the short term. The minimum bitcoin price is between $140,000 and $200,000 in mid-2025, Bitfinex analysts said.
The current bull market reflects strong institutional demand driven by [listed mutual funds that debuted in January] and spot accumulation. Historical data indicates that we are in the middle of the post half-cycle in April 2024 and will likely peak in Q3 and Q4 2025, about 450 days after the halving, explained the Bitfinex analyst. Historically, the strongest rallies are seen in the years following the halving, and since
2025 is the year after the halving, next year will be a strong test of whether that story is true. Bitcoin is entering the escape velocity phase of its fourth halving cycle, and is being embraced by corporations, institutions, and even governments in an unprecedented way. We are experiencing a real-time supply shock as bitcoin's fixed supply responds to increased demand, driving up the price.
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