Bitcoin's Journey to $100K: According to Industry Experts, the future is more promising because of ETF approval and Halving Event.
Bitcoin prices have been rising steadily and it is generally thought that they will soon reach new records, even $100,000 or even more, by 2025. Predictions of this expansion range—and even the launch of Bitcoin ETFs—and the upcoming Bitcoin halving event.
What Are Bitcoin ETFs?
The most significant recent advance has been the SEC (US Securities and Exchange Commission) approval of Bitcoin spot ETFs. These ETFs offer a method to institutional (and retail) investors to gain exposure to Bitcoin, without them owning the Bitcoin. It could attract further capital investment and thereby increase demand for Bitcoin, of course to the benefit of Bitcoin price.
The Halving Event: What It Means for Prices
One possible predictor of an increase in the price of Bitcoin is the coming halving in 2024. Halving events on average occur every 4 cycles and therefore reduce the money earned (remuneration) by Bitcoin transaction miners. That is to say, the new Bitcoins are created much less possible, and then the prices go up more in the instances that the demand goes up. In the past, such occurrences have flooded markets with price increases—after the prior halving in 2020, Bitcoin increased by 200%.
How the Economy Affects Bitcoin
In addition to these occurrences, Bitcoin also benefits from the economic boom of the current times. In the wake of the stabilizing inflation rates and revived global capital markets, bitcoin is gaining the perception of many as an alternative to a safe haven such as gold. Continued approval for Bitcoin ETFs also demonstrates the attraction of institutional investors and furthers this perception of Bitcoin as a good inflation hedge product.
The Bottom Line
Given all of the above causal factors, a Bitcoin price of $100,000 is at least one part of a reasonable plausible upper limit. Whatever happens by the end of 2024 or into 2025 is not yet in hand, but the ground is set up for a potential price surge. Both professional and retail investors are closely following the developments in the US and dreaming of how to advance Bitcoin to the next step in a few months.
But it is prudent for people who would like to monitor the variation of Bitcoin price and be aware of such important scenes, to observe the current trend of the industry information as well.