HomeBitcoinA well-known expert thinks the price of Bitcoin will reach $64,000 in...

A well-known expert thinks the price of Bitcoin will reach $64,000 in 2025.

-

In a big deal, Bitcoin went past $64,000 on Thursday, which hasn’t happened in over two years. Bitcoin is doing really well right now. Its value has gone up almost 30% in 2024, and it’s expected to keep rising before the Bitcoin halving event in April.

The value of Bitcoin went up because more people wanted to invest in Bitcoin and companies like MicroStrategy put a lot of money into it. MicroStrategy recently bought over $155 million worth of Bitcoin and helped to push the price of BTC up.

Talking about what Bitcoin’s rise means, Mark Palmer, who is a Managing Director and Senior Research Analyst at Benchmark, shared his thoughts on what the future holds for Bitcoin and how it will affect companies like MicroStrategy.

Palmer explained that Bitcoin’s price is affected by how much people want to buy it and how much is available to buy. He said that more people are buying Bitcoin after nine new Bitcoin ETFs came out in January. This shows that a lot of people want to buy Bitcoin. Palmer said that the event where the supply of new Bitcoins is reduced, called halving, is coming soon. This event has typically caused the value of Bitcoin to go up a lot in the past.

The halving is a part of Bitcoin’s system that cuts in half the rewards given to miners every four years. Palmer said that when less new Bitcoin is made, the price goes up. This happens before and after the halving event. Bitcoin helps control inflation and can be used instead of regular money like the US dollar.

Palmer said they think the price of BTC will be $125,000 by the end of 2025.

Palmer said that MicroStrategy gives big investors a special chance to get Bitcoin in a different way than regular Bitcoin funds.

This is not a suggestion about what to invest in.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

LATEST POSTS

New Bitcoin Whales Out-Invest Old Ones

Ki Young Ju, founder and CEO of CryptoQuant, has noted that the initial investments of new whales are almost twice as big as the old whales' cumulative...

Starknet-powered AVNU Launches Paymaster Feature, Revolutionizing Gas Fees on Ethereum Layer-2

In a recent development, Starknet, Ethereum’s layer-2 scaling solution leveraging zero-knowledge rollups, announced a groundbreaking feature by AVNU, its native DEX aggregator. AVNU’s newly launched...

Neo launches Neo X Beta TestNet, more information on GAS utility revealed

Neo has launched the Neo X Beta TestNet, bringing with it a new set of features as progress towards the MainNet launch continues. The latest...

NURSES PROTEST AGAINST THE USE OF AI IN HEALTHCARE AT KAISER PERMANENTE

Registered nurses and members from the California Nurses Association (CNA) protest against AI at Kaiser SF. The nurses are worried about patients’ safety but...

Most Popular

ADVERTISE HERE