Future Price Predictions
In an interview with Cointelegraph, Verbitskii laid out his prediction, suggesting that Bitcoin might reach a range between $100,000 and $120,000 by late 2024 or early 2025, just before the inauguration of President-elect Trump on January 20, 2025. His confidence stems from an expectation that increased trader engagement will propel Bitcoin to its highest heights, particularly towards the end of 2025. He envisions that as time unfolds, Bitcoin’s value may experience significant surges, potentially exceeding current anticipations. While Verbitskii’s outlook remains bullish, he reminds traders of the vital importance of managing risks. He advocates for investment diversification and encourages the use of limit orders and options as protective strategies against market volatility.Factors Influencing Price Fluctuations
Several key factors could play a role in Bitcoin’s price fluctuations and create supply constraints, according to Verbitskii. He pointed out that the forthcoming halving event in April 2024 — which will cut mining rewards — might tighten supply along with future halvings and the increasing issue of lost digital keys. This scarcity is exacerbated by the fact that fewer coins are mined each year and many are lost due to forgotten credentials or misplaced wallets. Such a situation could lead to a supply crunch, where demand for Bitcoin far exceeds availability, driving up prices and elevating market volatility. As of June 2024, Bitcoin’s reserves on exchanges, which reflect the total amount of Bitcoin accessible on trading platforms, reached their lowest point in three years. This downward trend in reserves persisted, slipping even further by August 2024. The landscape became more strained in November 2024, as heightened demand following the recent US Presidential election and various macroeconomic factors added pressure to an already limited Bitcoin supply.Market Dynamics and Future Outlook
Verbitskii’s insights underscore the potential volatility within the cryptocurrency market as it navigates evolving conditions. The factors influencing Bitcoin’s supply and demand dynamics, such as halving events and increased market participation, will play a critical role in determining its price trajectory as we approach the end of 2025. Investors are advised to remain vigilant and consider the implications of these developments in their trading strategies. “`htmlSource: Cointelegraph.com
“`
