Despite the price of Bitcoin reaching the all-time high (ATH) last night, there are still further positive forecasts circulating.
To tell the truth, predictions that hypothesize a further and significant surpassing of $75,000 have been circulating for some time, but lately, they seem to have increased.
The ATH of Bitcoin price: new forecasts
The All Time High (massimo di tutti i tempi) of the Bitcoin price was reached last night just above $75,300.
A few hours later, however, the price had already dropped to $73,000, but afterwards there was a rebound that brought it back above $74,000.
It’s as if it made a first bounce in reverse after surpassing $75,000, followed by a true bounce upwards after reaching $73,000.
In other words, today on the crypto market there is high upward volatility, exactly as several analysts were expecting.
It was a widespread opinion that both yesterday and today volatility would increase, and that yesterday could have marked the beginning of a bull phase.
And so with momentum, the price of Bitcoin in recent days first returned above $70,000, then rose above $72,000, then broke the “old” ATH from March at $73,800, and then rose to register the new ATH above $75,000.
The predictions on the price of Bitcoin after the new ATH reached
When a price reaches its maximum levels, in theory, it is likely to fall afterward.
In this case, however, many believe that the 75,300$ from last night might not be the true maximum.
There are fundamentally four hypotheses circulating about it, although there are some that foresee a decline.
The first is that the price of BTC is heading towards $80,000 in the medium/short term.
The second is that it could even be headed above the fateful $100,000, in the medium term and perhaps even by the end of the year.
The third and the fourth, however, concern 2025, and foresee either surpassing $150,000 or even $200,000.
To tell the truth, however, there are so many different forecasts among them that at this moment there does not seem to be agreement among analysts. Therefore, they all remain merely hypotheses, none of which is shared by so many people as to be considered reliable.
Bitcoin in the medium/long term
However, there seems to be agreement on the fact that, in the case a new bullrun has been triggered, it is unlikely that last night’s will remain a historical high for long.
For example, the Head of Strategy at Kraken, Thomas Perfumo, argues that although it is primarily the short-term price fluctuations that make the news, the real secret to Bitcoin’s success actually lies in its steady and long-term adoption.
Perfumo says:
“This is a trend that persists, regardless of the bull or bear market periods.”
It cites in this regard the net inflows on spot BTC ETFs starting from the previous ATH in March, amounting to 10.5 billion dollars, fueled by optimism for the possibility of greater regulatory clarity.
This position appears to be shared by many, albeit with various distinctions, and suggests that, regardless of price forecasts, the trend in the medium/long term is still on the rise.
It is therefore necessary to distinguish the short term, or the medium/short, from the long or medium/long term, because daily fluctuations are such that they make it difficult to analyze them, while in the medium/long term, analyses paradoxically become simpler.
The change underway
The co-founder and CEO of Bitpanda, Eric Demuth, goes even further.
It indeed says that the fact that Bitcoin has reached a new all-time high is a clear sign of the ongoing change in the financial landscape.
So it would not just be a market trend, but a deeper change within the entire financial system.
On this subject, Demuth states:
“We have already seen a new all-time high for the second time this year and we will continue to see new all-time highs in the years to come. The reasons for this include the steady progress in adoption, integration, and regulation, as well as institutional money from established capital markets entering this asset class”.
The fact is that the victory of Trump in the USA will most likely lead to a clearer regulatory framework for the cryptocurrency market, and this will be a positive step forward for the entire crypto sector.
All this suggests that there could really be a crypto bullrun from now until the end of 2025, although of course this hypothesis cannot be considered certain.
The negative forecasts
At this moment, fundamentally, the negative forecasts on the price of Bitcoin either specifically concern the short term, or they come from detractors or from people pessimistic about the future of the financial markets.
There is instead a high probability that the USA will continue to fuel the financial markets with a lot of liquidity, and that they will postpone as much as possible the return from the anomalous situation that formed between 2020 and 2021 due to the enormous and rapid QE by the Fed caused by the pandemics and lockdowns.
As long as the financial markets are flooded with liquidity, it is really difficult to predict that prices might go down.
And so, apart from the negative forecasts that concern only the short period following the ATH, the other negative forecasts on the price of Bitcoin come either from analysts who fear a liquidity collapse, or from true and proper detractors of BTC.
