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Crypto News - Posted on 26 November 2024 Reading time 5 minutes
DIGIVESTASI - Bitcoin Predicted to Reach USD 180,000 by End of 2025, Bitcoin (BTC) is projected to hit USD 180,000 by the end of 2025, according to Georgi Verbitskii, the founder of decentralized finance platform TYMIO.
As reported by Cointelegraph, Verbitskii forecasts that Bitcoin’s value will range between USD 100,000 and USD 120,000 by late 2024 or early 2025 before experiencing a significant surge.
“Bitcoin has the potential to reach USD 100,000 before Donald Trump’s inauguration,” Verbitskii stated. He further added that the upward trend could continue, pushing prices to USD 180,000 by the end of 2025.
However, Verbitskii warned that the price increase won’t happen overnight and is likely to manifest closer to the year’s end. He also advised investors to remain cautious.
“Diversifying portfolios, using limit orders for Bitcoin purchases or sales, and employing trading options are prudent steps to mitigate losses from market fluctuations,” Verbitskii suggested.
The primary factor anticipated to drive Bitcoin’s price surge is the supply scarcity caused by the upcoming halving in April 2024. Halving is a process that reduces the number of new Bitcoins that can be mined per block, directly increasing the asset’s scarcity.
“The available supply of Bitcoin decreases every year. Additionally, many coins are lost as users forget passwords or lose access to their digital wallets,” Verbitskii explained.
He also pointed out the possibility of a supply crisis when demand outstrips availability, potentially leading to sharp price increases with high volatility.
Signs of this scarcity have already emerged, according to Verbitskii. In June 2024, global Bitcoin reserves on exchanges hit their lowest levels in three years and continued to decline through August 2024.
“This situation worsened in November 2024 as demand increased due to global economic conditions and the U.S. presidential election,” he added.
Jason Myers, the founder of Onramp Bitcoin, also highlighted halving as a major driver of Bitcoin’s price growth.
“The reduction in block subsidies for miners, rising institutional interest, and shifts in global economic dynamics are strong reasons underpinning this upward trend,” Myers noted.
Bitcoin’s limited supply, increasing adoption, and halving-driven scarcity are creating a confluence of factors that could drive significant price appreciation.
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Source: investing.com
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