Under the impact of tax policies in the U.S., the price of Bitcoin in 2025 may fluctuate in various directions. The Biden administration's DAME tax proposal, which applies a 30% tax on the electricity costs of cryptocurrency mining companies, has faced strong opposition from the industry and some lawmakers due to concerns about its negative impact on the profitability and competitiveness of miners in the U.S.

However, some experts remain optimistic. Geoff Kendrick, an expert at Standard Chartered, predicts that Bitcoin could reach $120,000 by Q2 2025 and rise to $200,000 by the end of the year, thanks to increasing interest from institutional investors and the increasingly prominent role of Bitcoin as a safe-haven asset.

In summary, although strict tax policies may put short-term pressure on Bitcoin prices, the long-term investment demand and the growing recognition of Bitcoin in the global financial system could drive its value in the future.