Bitcoin Price Prediction after 2.44% Plummet
Bitcoin cannot hold onto its gains and may struggle to make back its record high of $126K anytime soon.
Quick overview
- Bitcoin is currently priced at $103,58 after a 2.44% decline in the last 24 hours.
- JPMorgan predicts a potential bull run for Bitcoin, targeting a market cap of $3.5 trillion and a price of $170,000.
- The cryptocurrency market is generally bearish, with Bitcoin needing an 18.45% increase to reach its previous record high.
- Investor interest in cryptocurrency has waned, and Bitcoin's future performance may depend on support from influential figures.
Bitcoin is now down to $103,58 (BTC/USD) after losing 2.44% over the last 24 hours, and yet investment firms are counting on the digital token to soar in the coming years and months.
Bitcoin (BTC) may be barely staying above $00K for now, but it could be due for a bull run soon. JPMorgan expects a boom for Bitcoin with a market capitalization of $3.5 trillion and a price of $170,000, setting those numbers as their price target.
BTC/USDThe cryptocurrency market is down for now, with tokens trending bearish for the most part. A few bright spots stick out, like XRP (XRP) with its 3.2% gain over the last day, but Ethereum (ETH), Cardano (ADA), and Hyperliquid (HYPE) all declined on Thursday.
Bitcoin Has a Long Way to Go
Just to make it back to its previous record high, Bitcoin would have to gain 18.45%, which seems unlikely to happen very soon. We may see a resurgence from the coin before the end of the year that allows it to set a new record, and it may peak around $130K before 2025 is over, but that is likely as far as it will go before next year.
There is no new inflation data for the government to share right now that would help Bitcoin climb higher, because of the government shutdown that closed off those data releases. The coin may benefit from President Donald Trump’s plan to issue $2,000 tariff rebate checks to Americans. When that idea was first announced, Bitcoin’s price shot up, but it did not stay elevated.
There is simply a lack of interest in cryptocurrency at the moment compared to a few months ago. Who can blame investors since stocks have risen from one record high to another after the midpoint of 2025, but cryptocurrencies have had trouble regaining their 2025 highs.
Bitcoin will continue to struggle until it can prove its relevancy again, and it may rest on the whales to do that. Over the past 11 months, Elon Musk and Michael Saylor have helped keep cryptocurrency relevant, but the market needs stronger support from investors that people trust. For now, it appears that Bitcoin will continue to flounder around the $100K-$105K range.
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