Bitcoin Retreats after Nearly Setting Fresh Record- New Price Prediction
Bitcoin made little progress over the last 24 hours, though it did briefly play close to $110K as the stock markets surged somewhat.
Quick overview
- Bitcoin (BTC) is currently priced at $108,787, having recently peaked at $109,737 but retreated afterward.
- Investor caution is evident as they await a significant upward movement before selling, amidst fears of prolonged stagnation.
- Other cryptocurrencies like Ethereum and XRP are experiencing gains, indicating a bullish trend in the broader crypto market.
- Predictions suggest Bitcoin may struggle to exceed $125K or $130K this year, with potential for higher values contingent on legislative changes regarding tariffs.
Live BTC/USD Chart
Bitcoin (BTC) continues to play close to a new record high as the stock market trends bullish this week. How long will it be until we see BTC break its record?
On Wednesday morning, Bitcoin achieved a price point of $109,737 (BTC/USD). It then fell to its current price of $108,787 in a retreat that is often expected after the coin surges. It is certainly frustrating for investors to see the coin move so close to a new high and then falter, but Bitcoin has done that a lot recently.
BTC/USDThis demonstrates caution on the part of investors, showing that they are waiting for an upward movement to sell, perhaps fearful that Bitcoin will take a long time to move much higher.
How Is the Rest of the Crypto Market Moving?
As Bitcoin hesitates to break its own record, other major cryptocurrency tokens are moving higher as well. Ethereum (ETH) has shown bullish tendencies this week and is up by 3.29% of the day.
XRP (XRP) is also climbing and added 4.13% for the day. Cardano (ADA), Solana (SOL), Tron (TRX), and others have all gained today and done even better for the week. Bitcoin is not the driving force to elevate the market at this point. The crypto market is doing well in large part because the economy is relatively strong and the stock market is up. Investors are hesitating to put too much money into assets because they are fearful of new tariffs, but they are confident enough in the strength of the market to help stocks and cryptocurrency tokens all move upward this week.
Bitcoin Price Prediction
How will Bitcoin move from its current value? It looks like the coin is struggling to break its own record, though a new high is inevitable this year. The whales will likely step in and push the coin higher, pressing for the fresh publicity that a new record brings and the new investors that such a move invites to the market.
With all of Bitcoin’s difficulty in reaching a new high, we expect it will have trouble climbing much beyond $125K or $130K this year. The possibility of $150K before the end of 2025 seems less and less likely with each week that Bitcoin struggles to set a new record.
What will help is if Trump can ease up on the tariffs and get that push for higher tariffs out of his system. Once his administration focuses on improving the legislative framework for cryptocurrency and giving crypto the spotlight, we should see Bitcoin move much higher and set incredibly high records. That may not happen this year, though, if Trump continues to push the tariff policies.
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