A Bitcoin at $124,000 to start 2025? Not only is it no longer fiction, but it's almost disappointing. At the start of the year, Cathie Wood predicted Bitcoin at $1 million by 2030. Analysts from her firm, Ark Invest, have just revised these estimates downward.
A Bitcoin at $124,000 before 2025?
Cathie Wood is one of the most respected investors on Wall Street. On the crypto side, it distinguished itself by taking positions in favor of Bitcoin well before giants like Blackrock validated the cryptocurrency.
She had also predicted the price of Bitcoin at $1 million by 2030. But the analysts at her firm, Ark Invest, are not of the same opinion.
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If they see the price reaching a new record high for the end of the year, “ between $104,000 and $124,000 », the latter think that the amplitude of bull runs will continue to decline. As a reminder, during previous bull markets, Bitcoin had multiplied its value by 20 – in 2017 – then by 3 – in 2021. With a price of 124,000 at the end of the year, it will have been multiplied by 2.
With a decreasing rate, it is difficult to imagine the king of cryptocurrencies reaching the million mark within 5 years. Another thing: according to these same analysts, we are already halfway through bull run :
I would classify the current market environment as sort of in the middle of the bull cycle. If we measure the evolution from the bottom up, I would say we are about 55% to 65% of the way there.
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Could Bitcoin reserves be a game changer?
However, there are certain elements that could change the logarithmic direction the market is taking. In particular Donald Trump's agenda and the creation of a strategic Bitcoin reserve.
Such a reserve could modify the balance of power between available supply and demand. With a growing appetite for cryptocurrencies, more and more states could follow the United States' lead. It is difficult to predict the impact on the price with the entry into play of these new players. A vision defended by Ark Invest analysts:
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“Monetary policy and the position of the SEC are the elements to focus on. The analogy I would use is that a strategic reserve of bitcoins wouldn't just be the icing on the cake – it would be like a whole new cake on a cake”
A total paradigm shift, in the light of which we should review the models used to anticipate the price of Bitcoin. Once again, the world hangs on the lips of the SEC.
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Source : Coindesk
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Cryptocurrency expert, Marc-Antoine began his journey in Web 3 alongside David Prinçay (current president of Binance France) in the French Cryptocurrency Club. Since then, it is by writing articles in the best-known crypto media in France that he has spread the good word. If you've read an article about crypto, there's a good chance you've read one of his articles. NFT, Blockchain, Web 3, DeFi, there is not a sector that is foreign to it. And don't ask him what the next coin to buy is: it's a maximalist Bitcoin (yes, no one is perfect).
Marc-Antoine Caen Poletti
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