30s Summary

Bitcoin’s price soared by more than 2% on Dec. 16, reaching a new high of approximately $106,535, largely due to MicroStrategy’s inclusion in the Nasdaq 100 Index. Analysts including Peter Brandt believe the cryptocurrency could surge to $120,000 by the end of the year. Some suggest it could potentially hit between $150,000 and $154,000, given its past performance and Fibonacci extension levels. Predictions for 2025 point towards a potential value of $800,000 based on Bitcoin’s capped supply. Meanwhile, PlanB and Perianne Boring anticipate average prices: potentially $500,000 and a high of $1 million.

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Bitcoin (BTC) price took a leap of over 2% on Dec. 16, smashing previous records and reaching around $106,535. One reason for this growth is MicroStrategy, a major Bitcoin collector, making its way into the Nasdaq 100 Index.

2024 has been a brilliant year for Bitcoin as its value surged by more than 136%. Quite a lot of this growth followed Donald Trump’s election victory on November 6th. Hopes around more Bitcoin-friendly policies and the addition of crypto-based companies in a leading Wall Street index have really fueled the optimism.

One long-time analyst, Peter Brandt, suspects Bitcoin’s good run might continue towards $120,000. He looked at a bull flag pattern, which comes up when prices consolidate after a price rally, suggesting that Bitcoin could be breaking out of this pattern.

Bitcoin’s entry into the breakout phase was confirmed on Dec. 16 and Brandt suggests $120,000 could be the next target. Several other analysts have also predicted the same target for Bitcoin by the end of the year, including CryptoQyant’s CoinLupin.

Based on past performance and using Fibonacci extension levels, there’s buzz that Bitcoin could potentially reach between $150,000 and $154,000. Bitcoin has previously exceeded the 1.618 Fibonacci extension level before heading towards higher levels such as the 2.618. As of Dec. 16, Bitcoin surpassed the 1.618 level at about $102,000, which indicates the next serious goal could be the 2.618 level roughly around $155,500.

Looking a bit further ahead, analysts think Bitcoin could reach an epic $800,000 by the end of 2025. This is based on the fact that Bitcoin has a capped supply and the likelihood of an increasing policy outlook favoring Bitcoin.

PlanB, creator of the popular stock-to-flow model, anticipates average prices of Bitcoin could be around $500,000 in 2025, with potential highs of $1 million. And it’s not just him, Perianne Boring, the founder of The Digital Chamber, agrees with this based on the stock-to-flow model and potential pro-Bitcoin policies under Trump.

In an interview with Fox Business, Boring said: “If Trump is successful in advancing his proposals for the crypto community, the sky is the limit because Bitcoin has a fixed supply.”

Given the fixed supply of Bitcoin, its market cap could potentially soar from $2 trillion to $15 trillion, pushing its price toward $800,000.

Just a small reminder, investing always comes with its own risks and it’s important to do your own research before making any decisions.