The Bitcoin price climbed 2% in the last 24 hours to trade at $95,650 as of 2.30 a.m. EST on trading volume that dropped 25% to $29.96 billion.

The BTC price has seen struggles throughout the second half of December 2024, ever since it exceeded $107k on December 17. Its price even dropped to $91,392 on December 30 as the coin reached its lowest point since mid-November.

However, the start of the new year has brought a strong and steady price surge which already allowed BTC to recover to $95.6k. This likely comes from a growing trader and investor optimism, since many believe that 2025 will bring a massive year-long rally that would propel not only Bitcoin but the entire crypto industry to new heights.

In fact, CoinShares’ head of research, James Butterfill, says Bitcoin could ultimately hit $250,000 per coin, which would be an increase of over 160% from its current price.

That won’t be this year though, with Butterfill expecting a maximum surge to $150k in 2025. It could also plunge to as low as $80k at some point, he added.

His optimistic prediction comes due to many factors, including that BTC tends to see a major surge in the year following its latest halving, and the fact that Gary Gensler will step down from his role as the SEC Chair.

Donald Trump’s administration is also expected to be much more crypto-friendly than the Biden administration, which is helping to build up hype and demand.