Bitcoin – Price History Lesson
Bitcoin was an alien idea shortly after it was created. Few understood what it was or represented. In April 2011, it was selling at $1 and rose to $29, up 2,900% in three months. However, a recession set in, followed by an uneventful 2012. Growth resumed with its value reaching $200 in early 2013 and peaking at over $1,200 in December.
Then the bull run came in 2017 and the price skyrocketed from $900 in late 2016 to $19,000 in December 2017. Bitcoin price entered a mixed market over the next two years. In 2020, the pandemic hit and Bitcoin price opened the year at $6,000. However, it gradually increased to close the year at $29,000.
In 2021, it took bitcoin a month to break previous price records. The virtual currency reached a market capitalization of $1 billion in February. In April, the price hit a new high of $63,000. However, it lost more than 50% of its value in July, falling to $29,000. The highs and lows continued and reached an all-time high of $67,000 in November. However, it dropped due to concerns over Omicron variants and is now trading at $36,000.
Bitcoin price predictions for 2025
As the first expert predictions, we will use data from CryptoPredictions.com. This site uses mathematical computing to predict the price of cryptocurrencies. These forecasts are updated every 5 minutes, so they may differ at the time of your reading.
While many experts are predicting the Bitcoin price to be above $100,000, the site has a more conservative forecast.
The CryptoPredictions platform predicts that Bitcoin would open the year 2025 trading between $42,020.849 and $61,795.366. In February, the price of Bitcoin is expected to average $50,661,630. In March, the site forecasts the price to be between $43,978.946 and $64,674.921.
In the second quarter, the price of Bitcoin is expected to trade between $44,967.078 and $68,884.958. The price is expected to average $54,000 in May and $55,107.967 in June.
Bitcoin is expected to average $56,154.063 in July, while the maximum price may exceed $70,000. The uptrend is likely to continue into August, with an average of $48,628 between $71,512. During the last month of the third quarter, the site’s algorithm predicts that Bitcoin will range between $49,505 and $72,802.41.
Fourth Quarter Forecast
During the last quarter of the year, predictions from CryptoPredictions.com show that the pioneering digital token could eventually surpass $50,000. The site expects Bitcoin to average $60,207 and $62,143 in November and December, respectively. In the fourth quarter, the highest expected Bitcoin price is $76,429. Bitcoin is expected to end the year at an average price of $61,143.351.
Various crypto investors and analysts have voiced their predictions for Bitcoin. Below are some of the projections worth considering.
Finder panel predictions
A panel consisting of 33 fintech experts and crypto analysts predict Bitcoin will be worth $192,800 by 2025. The expert further predicts that the price will surge to $406,400 by 2030. This is not the first time they have made these predictions. Last year, they made a similar forecast but revised their projection following Bitcoin’s decline. In June of last year, they predicted that the pioneering digital coin would hit $265,000 and increase around three times to sell for $706,321 in 2030.
Half of analysts believe the current decline offers an excellent buying opportunity, while 10% see a perfect opportunity to go short. 29% of panelists would prefer not to buy or sell right now.
The panel is comprised of industry experts including asset managers and crypto analysts including;
- Bilal Hammoud – the CEO of NDAX
- Daniel Polotsky – the founder of CoinFlip
- Desmond Marshall – the managing director of Rogue International and Rouge Venture
- Elvira Sojili – associate professor at the University of New South Wales
- Fred Kompella – founder of Finder
- Chloe White – the Managing Director of Genesis Block Pty Limited
Other panel members include John Hawkins, Jeremy Cheah, John Stefanidis, David Klinger and Ganesh Kompella.
Pavel Shtikin’s Bitcoin Forecast
Nominex exchange CEO Pavel Shtikin believes Bitcoin will replace gold and experience a massive bull market to reach $50,000 by 2025. He says adoption by major companies around the world will support this growth in price.
If you ask me about BTC in 2025:
✅ adoption by the world’s largest companies
✅ 6-digit BTC price before 2022
✅ BTC – legal tender by developing countries in 2023
✅ BTC replaced gold as the global reserve asset and surpassed $500,000 in 2025. 🚀🚀🚀 just wanna see it
— Pavel Shkitin (@pshkitin) August 3, 2021
Justin Chuh, senior trader at Wave Financial, says Bitcoin is a proven digital asset haven. The halving and inflation will see the price soar to sell for $210,000 by 2025.
Keizer Report host Max Keizer has a fairly conservative forecast and expects bitcoin price to hit $100,000 in 2025.
At a fundamental level, the future price of bitcoin will primarily depend on perceived value. This means that traders and investors will pay a specific amount if they think it is worth it. Demand and supply will also play an important role in the future of crypto, like any other asset class. Bitcoin is designed to have a maximum supply of 21 million coins. If bitcoin’s popularity continues to grow, supply will not be able to meet demand. However, supply may exceed demand if popularity declines.
The bitcoin halving, which takes place every four years, will make bitcoin even rarer. The next halving is expected to take place in 2024, reducing the mining reward to 3,125. The halving is usually followed by a massive proliferation of prices. After this event, a bull market could follow and overflow until 2025.
Remember that Bitcoin is used as a store of value and to generate investment returns. Investors and brokers have even created derivatives to further influence the price of bitcoin. In October, the first future-based bitcoin ETF (BITO) went live on the New York Stock Exchange. The futures ETF tracks contracts that speculate on the future price of Bitcoin rather than the spot or current price. Therefore, the price of Bitcoin and ETF does not necessarily match.
Perhaps one aspect that could have a massive impact on the price of Bitcoin is whether countries will adopt Bitcoin as legal tender. In June 2021, El Salvador became the first country to adopt bitcoin as legal tender. This means citizens can use Bitcoin to pay taxes and pay for goods and services. If the other countries join, the price of Bitcoin could proliferate massively.
Additionally, bitcoin underwent the first update in November 2021, since its inception. Remember that bitcoin had no real use in the past, which made other cryptos more attractive and had more potential. The Taproot upgrade makes bitcoin cheaper, efficient, and private. It also allows Bitcoin to execute smart contracts.
One of the things that could drive up the price of Bitcoin is if it becomes an accepted form of payment. In 2021, the value increased when the CEO of Tesla announced that the electric vehicle manufacturer would accept payment in bitcoin. However, the company has currently stopped accepting bitcoin payments.
Some large companies started accepting bitcoin in 2014. Here are some companies that have integrated bitcoin into their payment system.
- Overstock was the first retailer to accept bitcoin payments.
- Microsoft started accepting bitcoin payments in 2014
- Amazon-owned Whole Foods has also started accepting bitcoin payments by instantly converting bitcoin to dollars
- Since 2020, Starbucks has allowed customers to pay using Bitcoin on the Starbucks app.
- Newegg accepts bitcoin payments for electronics
- Twitch accepts crypto payments including Bitcoin
- Online travel company Travala.com accepts Bitcoin and other crypto for hotel stays
- Paypal has also integrated cryptography to allow users to send and receive bitcoin payments
Other Factors That Will Affect Bitcoin Price
The price of Bitcoin will also depend on the behavior of other cryptocurrencies. If the consumer believes that other cryptocurrencies will be more valuable than Bitcoin, this could negatively affect demand, leading to a drop in value. If regulators address crypto concerns and institutions adopt crypto as a payment method, the price could rise significantly. Bitcoin price could be affected by hype, speculation, investor panic, and FOMO.
Final Words on Bitcoin Predictions for 2025
Bitcoin is the most popular and valuable cryptocurrency. While other cryptocurrencies have grown significantly, they are still far behind bitcoin. Ethereum, the second largest cryptocurrency, is less than half the value of Bitcoin. Although Bitcoin lacks real-world use cases like Ethereum, it is widely accepted as a means of payment and cross-border transactions.
Moreover, its massive adoption by giant tech companies like Microstrategy makes it attractive for investors. Bitcoin should also upgrade its ecosystem, giving it some utility. If you add payment acceptance and institutional adoption, we could see Bitcoin reach new highs in 2025, as predicted by the experts above in the article.