Is Bitcoin Going to Reach $200K This Year? New Bitcoin Price Prediction
Bitcoin (BTC) climbed to $98,655 (BTC/USD) Friday morning amid speculation that it could hit $200,000 by the end of the year, but it still has a long way to go to reach that milestone.
The leading cryptocurrency token is up by 1.40% over the last 24 hours and could hit $100K soon, and that small spike occurred after Anthony Scaramucci of Skybridge Capital speculated that Bitcoin could achieve $200K this year.
That would be quite an accomplishment since even during the crypto trading frenzy surrounding Donald Trump’s election win last year, Bitcoin only climbed as high as $109,114.
Bitcoin hit a low of $93.5K earlier this week, which was its lowest point since the beginning of the month. Friday’s high past $98K marks the first time in a week the coin had managed to climb so high. BTC’s price has stayed below $100K since early in February due to high inflation, cautious statements from the Federal Reserve on interest rate cuts, and speculation that United States tariff action will hurt the economy.
How Likely Is Bitcoin to Reach $200K in 2025?
Cryptocurrency tends to do well when the economy is healthy, as a tight economy gives investors little disposable income to spend on cryptocurrency. As long as inflation remains high and shows no signs of dropping, Bitcoin is likely to struggle. However, the token could benefit from changes made to the existing legislative framework for cryptocurrency that Donald Trump could enact this year.
For Bitcoin to hit $200K, it would have to see a 100% increase. If Trump establishes a new strategic crypto reserve for the country, then that should boost the BTC price. Russia may also set up their own reserve, according to speculation that has been going on for months. That could help the BTC price as well.
There is an outside chance that Bitcoin will hit the $200K mark in 2025, and its chances will be determined partly by what Trump does not help it along and partly by how quickly the US economy recovers from its post-Covid downturn. If Bitcoin hits as high as Scaramucci predicts, then its market cap may reach as high as $4 trillion.
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