How high can Bitcoin actually go?
The next Bitcoin bull run may be on its way - what price can it realistically reach?
Despite a shaky week, Bitcoin is mere days away from its biggest price catalyst.
The fourth Bitcoin halving is due this Saturday (AEST), and expectations are that we could be on the cusp of the next cryptocurrency bull market.
Which leaves us with the (maybe literal) million dollar question: how high could the price of Bitcoin actually go?
Is Bitcoin likely to have another bull run?
Bitcoin has historically operated on a 4-year boom and bust cycle, with the Bitcoin halving often acting as a catalyst for the "boom" part of the cycle.
In fact, 58% of experts on our panel believe the halving will trigger a new Bitcoin bull run.
As we've mentioned many times in the past, Bitcoin normally sees its most dramatic price appreciation in the 12-18 month period following a halving.
If history is any indicator, and that's always a big IF, then it's plausible that the next year could be a particularly prosperous one for Bitcoin and other cryptocurrencies.
What price could BTC get to?
Our expert panel expects Bitcoin to be at US$77,423 by the end of the year, hit US$122,688 in 2025 and reach an eye-watering US$366,935 by 2030.
But it's possible those figures aren't optimistic enough.
If we use the previous 4-year Bitcoin bull cycle (2018-2021) as a guide, we could actually expect a price of US$314,000 within a year or so.
Yes, you read that right. Let us explain.
Bitcoin hit a cycle low of around US$3,200 in December 2018 before reaching a cycle high of around US$67,500 in November 2021.
That's a 2,000% increase.
If we apply that same increase to the most recent cycle low (US$15,700 in November 2022), that gives us a price of US$314,000 per Bitcoin some time around October 2025.
Of course, Bitcoin is notorious for its volatility, which makes both short-term and long-term predictions extremely tricky.
It's also reasonable to expect diminishing returns each bull cycle as the price of Bitcoin climbs higher and higher.
So take this with a huge grain of salt.
Think you know better than the experts?
See if you can correctly predict what the price of Bitcoin will be in US dollars next Monday, and come back then to see the results.
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