NewsletterIs $1 Mln Bitcoin Price Possible In 2025? Here’s What Experts Think
Highlights
- A top expert said that Bitcoin is likely to hit $1 million in 2025.
- However, he noted that the chances are low for BTC to hit the $1 million target.
- BTC surged more than 2% today, which indicates regaining confidence of the investors.
Bitcoin price has started the year on a positive note, indicating that investors are regaining confidence in the asset. Amid this, a flurry of market experts has set different price targets for the flagship crypto, which has sparked discussions in the market. Besides, a top analyst also discussed BTC’s potential to hit $1 million in 2025 and what could trigger such a rally in the coming months.
Can Bitcoin Price Hit $1 Million?
Bitcoin price has gained notable traction in 2024, especially after Donald Trump’s election win in November. However, as we enter 2025, the market participants remain on edge with many exploring what lies ahead for the flagship crypto. Amid this, a top expert recently revealed if BTC could target the $1 million mark in 2025 and factors that can boost the price higher.
For context, Jeff Park, Head of Alpha Strategies at Bitwise, recently said that the crypto can likely rally to $1 million in 2025. He noted that the crypto can hit the $1 million mark only if the Bitcoin Strategic Reserve idea for the US becomes reality. However, he also said that the chance of the BTC Reserve happening in 2025 is less than 10%.
Meanwhile, Trump’s victory has boosted the sentiment of the market lately. Besides, his active support for BTC during his election campaign has further fueled market optimism. The Republican leader also pledged to make the US the crypto capital, which has further triggered speculations.
A flurry of countries are also shifting their focus towards the digital assets space, especially Bitcoin. In addition, corporations like Michael Saylor’s MicroStrategy are also spending heavily on crypto, reflecting the growing market interest in crypto.
Bold BTC Forecasts
BTC price today was up over 2% and exchanged hands at $95,656 while its one-day trading volume fell 24% to $29.99 billion. Notably, the crypto has touched a 24-hour high of $95,824 and a low of $92,788. Furthermore, CoinGlass data showed that Bitcoin Futures Open Interest also rose significantly, reflecting the strong market interest in the crypto.
Meanwhile, a recent CNBC report shared several price targets for BTC by experts. For instance, CoinShares Head of Research James Butterfill said that Bitcoin price could rally to $150K in 2025. However, he also noted that the crypto could slump to $80K as well if the bearish momentum dominates.
Simultaneously, Matrixport said that the crypto is likely to hit $160K this year. On the other hand, Galaxy Digital expects BTC to rally to $185K in 2025 amid soaring crypto adoption of the institutions.
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