The crypto space has been on a huge recovery path in 2024 — a year which saw the approval of spot Bitcoin ETFs (exchange-traded funds) in January, deemed by many a landmark decision for the crypto industry. This was followed by the most recent approval of spot Ethereum ETFs in May, and their trading debut in July.
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Bulls are getting more bullish by the day, with some putting bitcoin’s price at more than $100,000 before the end of the year. For instance, Bernstein analysts said in a note that it will reach $200,000 by mid-2024, and $500,000 by 2029, according to Decrypt.
Against this backdrop, here is what experts said about their predictions for the crypto space next year.
Bitcoin at $100,000
As of Aug. 26, Bitcoin stood at $63,900 — up 145.1% in the past year, according to CoinGecko.
Peter St. Onge, economist and visiting fellow at the Heritage Foundation, said he predicts Bitcoin to hit $100,000 next year, although the timing is unclear.
“Bitcoin at $100,000 has been a rallying cry for bitcoiners, and it’s now in sight with Powell’s pivot on interest rates,” said St. Onge. “Bitcoin jumped several thousand on the announcement — with gold jumping over $2500 as well — because it signals more inflation from a Fed that’s now trapped by a failing jobs market.”
As he further noted, this is really the first election where Bitcoin (and crypto holders more broadly) have had a voice.
“According to the Fed, tens of millions of Americans own crypto, and many of them are passionate, single-issue voters,” he added.
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Bitcoin Will Hit a Low of $30,000
According to Matthew Webb, co-founder of wevr.ai, 2025 will be a year of “mostly prosperity for Bitcoin.”
“However, I believe there will be some heavy turbulence. If a recession occurs, I could well see Bitcoin going as low as $30,000,” he said.
He noted, however, that if the new government can steer America out of a recession and into prosperity, he could see Bitcoin hitting $100,000.
“Going over this however will be a hard push in 2025, the psychology of round numbers will cause many investors to sell…
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