Bitcoin Sur to $100,000 Amidst $20 Trillion Price Prediction
The price of bitcoin has plummeted to around $90,000 per bitcoin, causing a decline in broader cryptocurrency market and erasing approximately500 billion in value from the $3.2 trillion crypto market.
Bitcoin’s decline approximately 10% in the last 24 hours overshadow by Ethereum and smaller ten cryptocurrencies—includingana and Dogecoin—thatummeted by between 15% and 25%.
This week, Federal Reserve chair Jerome Powell disappointed traders when he warned interest rates would not come down as quickly as the Fed had previously thought, reducing its planned number of cuts to just two in 2025, from four previously.
Other major cryptocurrencies that had declined including Ethereum, Ripple’s XRP, and Dogecoin, also rebounded, with combined market recovering approximately $300 in value as traders increased their bets on Federal Reserve interest rate cuts next.
Meanwhile, Cathie Wood, the founder of the Ark Investment Management hedge fund, reiterated her optimistic bitcoin price prediction in a Bloomberg interview, stating that the price will exceed $ million by 2030—resulting in a market capitalization of approximately $20 trillion.
“[Bitcoin becoming even more scarce than,” Wood. “The difference gold and bitcoin is that when the gold price increases, production rises, and the supply. This cannot with bitcoin.”
In the coming weeks, analysts of the bitcoin and cryptocurrency anticipate that the bitcoin price will continue to experience significant fluctuations.
“Regarding the upcoming holiday period, the first rule of bitcoin is that it is always volatile, much like water is always wet,” James Toledano, Chief Operating Officer at Wallet, stated emailed comments.
“Its behavior is always mixed, and there is noible pattern at the end of the and going into next. Sometimes the price rises in the new year and at other times it falls. Historically, we can say that bitcoin exhibits typically mixed behavior over and New Year Toledano added, pointing to incoming U.S president Donald Trump’s January 20 inauguration as an important to watch for the bitcoin and crypto market.
“Remarks from the Federal Reserve served as a wake-up call,” Danni Hewson, AJ Bell’s head of financial analysis, stated in an emailed comment.
“Inflation remains persistent, and tax cuts and tariffs could potentially lead to reflation. “Risk appetite has diminished. Trump 2.0 is an unpredictable factor and no one wants to be overly exposed if the economic climate turns unfavorable.”
“Volatility levels for both Ethereum and Bitcoin are expected to increase as we approach early 2025, particularly around the settlement of the December 27, 2025 expiry Nick Forster, founder of the decentralized finance (DeFi) protocol Derive, stated in emailed comments., he added that he anticipates the Bitcoin price and the crypto market to recover throughout 2025.
“We are observing a trend where funds and high net-worth individuals are moving into options with longer expiries, such as those for September and beyond, reflecting positive outlook for 2025. This shift is evident from the open interest in calls significantlynumbering puts on Derive.xyz, signaling strong market optimism.”