Bitcoin, the world’s most valuable cryptocurrency, continued its rally on Tuesday and reached an all-time high of $108,315 per coin before slightly retreating to around $105K. Still, analysts from the Bitfinex crypto exchange believe this is just the beginning.
In a recent note, Bitfinex’s analysts made a case for Bitcoin reaching a price of $200,000 “around mid-2025” based on previous trends in the cryptocurrency market. Their minimum target price for that period is $140,000.
“The current bull market reflects strong institutional demand, led by ETFs and spot accumulation,” the note said. “Historical data suggests we are mid-cycle, following the April 2024 halving, with the market likely to peak around [the third and fourth quarter of] 2025, approximately 450 days post-halving. Historically, post-halving years have seen the strongest rallies.”
Bitfinex analysts added that the price of Bitcoin might see some oscillations in early 2025. However, they don’t see a significant drop due to a variety of factors, including the broader adoption of Bitcoin as an asset and friendlier approach by governments and financial institutions.
Bitcoin embarked on a massive rally in early November and broke the $100,000 mark for the first time on December 5. The coin is currently 139.62% up year-to-date.