Bitcoin keeps reaching new all-time highs almost every day recently. It’s above $92,400, at press time. If it isn’t the bull run, then what it is it? But how far can it go? Let’s see what experts have to say about future Bitcoin prices.
Both analysts and investors have paid close attention to the present Bitcoin bull run since it marks a turning point in the cryptocurrency market. Rising prices, more trading volume, and fresh interest from both retail and institutional investors define this optimistic period.
Is Bitcoin Actually in a Bull Run?
The bull run is believed to have started in early 2024, following a period of accumulation that began after the last halving event in April 2024, when the block reward for miners was reduced from 6.25 to 3.125 bitcoins.
Historically, such halving events have been closely linked to subsequent price surges, as they decrease the supply of new bitcoins entering circulation, thus creating upward pressure on prices.
During the accumulation phase, which typically precedes a bull market, many investors take advantage of lower prices to build their positions. According to Caleb & Brown, this phase is marked by low trading volumes and bearish sentiment, where savvy investors begin to accumulate Bitcoin at perceived discounts. As noted by an analyst from Tap Global, "This is often viewed as a prime time to buy the asset," as experienced traders recognize the potential for substantial returns once the market shifts towards growth. This sentiment was echoed by Glassnode's recent findings indicating that long-term holders are returning to accumulation levels not seen since mid-2023, suggesting strong underlying demand for Bitcoin.
As the market transitioned from accumulation to the markup phase in early 2024, Bitcoin's price began to climb steadily. Analysts have pointed out that this phase typically sees increased stability as more investors enter the market, driven by positive sentiment and fear of missing out (FOMO). The Accumulation Trend Score (ATS) recently reached its maximum value, signaling a significant shift back to accumulation and suggesting that bullish momentum could continue in the near future.
"Historically, the fourth month after the halving has always been bullish for Bitcoin," noted Titan of Crypto, hinting at a potential price surge above $66,000 in September based on past patterns.
Market participants are also optimistic about Bitcoin's ability to reach new all-time highs due to growing institutional interest and mainstream adoption. Companies like MicroStrategy and Tesla have made significant investments in Bitcoin, further legitimizing it as a store of value.
As Caleb & Brown highlights, "Mainstream adoption of Bitcoin has been on a steep curve," with trading volumes on platforms like Binance reaching unprecedented levels in 2024. This influx of institutional capital is expected to provide additional support for Bitcoin's price as it continues its upward trajectory.
Despite the optimism surrounding this bull run, analysts remain cautious about potential volatility and corrections that may occur as profit-taking becomes more prevalent among investors. No wonder. The transition from the markup phase to a potential bubble phase could lead to rapid price increases followed by significant corrections.
As noted by FXStreet, "While the overall trend remains bullish, short-term corrections could bring prices down temporarily before resuming upward momentum." This cyclical nature of Bitcoin's market behavior underscores the importance of understanding market phases and adopting strategies that align with these trends.
Let’s take a look at 10 recent predictions from famous experts about where Bitcoin prices could go from here. And don’t be too much happy just yet, as not all of these predictions are optimistic.
Bitcoin Price Predictions From Experts
-
$250,000
PlanB, Quant Analyst: "I believe Bitcoin could surpass $250,000 within the next few years." This prediction is based on his Stock-to-Flow model, which links Bitcoin's scarcity to price increases, particularly following halving events. PlanB emphasizes that institutional interest, such as Michael Saylor's planned acquisition of $42 billion in Bitcoin, will significantly boost prices. -
$150,000
Ian Balina, Crypto Analyst: "Bitcoin has the potential to reach $150,000 in the next bull run." Balina bases this forecast on historical price movements following Bitcoin halving events and anticipates a surge starting around April 2024. He notes that while returns may decrease with each cycle, significant profits are still possible. -
$125,000
Geoff Kendrick, Standard Chartered Analyst: "I predict Bitcoin could hit $125,000 by January 2025." Kendrick's analysis suggests that current market momentum and historical performance during bull runs support this bullish outlook. He believes the upcoming economic conditions will favor Bitcoin's rise. -
$100,000
Copper. co Report: "Bitcoin could peak around mid-2025 at approximately $100,000." This prediction aligns with historical cycles and current market dynamics as Bitcoin reaches day 554 of its cycle. The report highlights that macroeconomic factors will play a crucial role in determining this peak. -
$90,000
eToro Analysis: "Bitcoin's recent surge past $89K indicates strong bullish sentiment." Analysts suggest that if retail interest continues to grow, Bitcoin could stabilize around $90,000 as it attracts more investors looking for safe-haven assets amid economic uncertainty. -
$80,000
Brave New Coin Analysis: "Bitcoin's rise past $80K has ignited a broader bullish trend across the crypto market." Analysts predict that as Bitcoin maintains this level, it will encourage investment in major altcoins like Ethereum and Solana, further driving market momentum. -
$75,000
CryptoQuant Data Analysis: "Market indicators suggest Bitcoin could stabilize around $75K in the near term." Analysts note that while volatility remains high due to leverage in the market, a price correction might lead to Bitcoin finding support at this level before any further upward movement. -
$134,000
Peter Brandt, Veteran Trader: “Bitcoin could reach levels of $134,000 based on recent market behavior.” Brandt’s analysis indicates that Bitcoin has recently exceeded the upper boundary of its 15-month trading channel, suggesting a strong upward trend. His confidence in this prediction reflects a broader bullish sentiment in the market as Bitcoin continues to gain traction. -
$200,000
Max Keiser, Financial Broadcaster: “I predict Bitcoin will hit $200,000 by the end of 2024.” Keiser has been a long-time advocate for Bitcoin and often ties his predictions to macroeconomic factors and Bitcoin’s potential as a hedge against inflation. His forecasts are rooted in the belief that Bitcoin will increasingly be adopted as a global reserve asset. -
$150,000
Bernstein Analysts: “We forecast that Bitcoin could surge to $150,000 by 2025.” This prediction follows strong inflows into spot U.S. Bitcoin exchange-traded funds (ETFs) since their approval in January. Analysts Gautam Chhugani and Mahika Sapra note that these ETFs are expected to account for a significant portion of the total circulating Bitcoin supply, driving demand and price upward.