Recent performance
Bitcoin has been quite popular recently, with the price rising significantly, surpassing the $100,000 mark. On May 19, it even reached $107,000, increasing by over 1% in a single day.
Why is this happening?
Policy aspect: The Trump administration is relatively supportive of the cryptocurrency industry and plans to introduce new regulatory reforms to promote its development, which has increased confidence in Bitcoin. Many believe it will have better prospects in the future, leading to more purchases and driving the price up.
- Capital inflow: Large institutions like BlackRock have been increasing their Bitcoin holdings, and Bitcoin ETFs saw a net inflow of $3.1 billion in a single week, setting a new record. The influx of institutional money naturally drives up the price of Bitcoin.
- Market sentiment: Everyone is currently very interested in cryptocurrencies, and the Cryptocurrency Fear and Greed Index has reached a 'Greed' level, indicating that people are eager to participate in this market. Many funds are concentrating on mainstream coins like Bitcoin, which has attracted more attention, making its price easier to rise.
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Potential risks
- Price may fall: From a technical perspective, the daily MACD indicator for Bitcoin shows that bullish strength is weakening, and short-term support levels have moved down to $101,000. If this support level cannot hold, the price may drop towards the lower moving averages, with a high possibility of a pullback.
- Regulatory uncertainty: Although the Trump administration has a supportive attitude, new anti-money laundering regulations in the EU are putting pressure on privacy coins, the US SEC is strengthening scrutiny of exchanges, and the UK has a cryptocurrency legislative proposal. Any changes in these policies could instill fear in the market, leading to Bitcoin price fluctuations.
- Speculative bubble risk: Some coins, like Meme coins, have gained popularity due to celebrity effects but have low on-chain activity and little real value. If enthusiasm wanes, these coins may plummet, potentially affecting the entire cryptocurrency market, including Bitcoin.
Everyone's predictions
Different institutions and individuals have varying opinions on Bitcoin's future price. Standard Chartered Bank believes it could reach $200,000 by the end of 2025; the research director at Galaxy Digital suggests it might break $150,000 in the first half and reach $185,000 in the fourth quarter; institutions like Bitwise and VanEck expect it to reach between $180,000 to $200,000 in 2025; Cryptomus predicts prices between $92,657 and $97,964 in August 2025, and between $93,837 and $115,671 in September; the research director at CoinShares believes the price will be between $80,000 and $150,000 in 2025.
However, it is important to remember that these predictions are just opinions. The Bitcoin market changes rapidly, and no one can guarantee what will happen in the future. It's essential to be cautious when investing.
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