Bitcoin (BTC) has reached an unprecedented high of $94,730, continuing its upward trend since November 5. This surge has been termed the "Trump trade" due to recent political developments. Analysts foresee more growth potential for BTC.
Ali Martinez, an analyst, believes that Bitcoin's current movements are akin to those in December 2020. Using the relative strength index (RSI), he predicts Bitcoin could reach $108,000, possibly correcting to $99,000 before eventually rising to $135,000. These forecasts indicate a 42% increase but lack a specific timeline.
Market expert Timothy Peterson's projections extend further, suggesting Bitcoin could hit $275,000 by Thanksgiving 2025 based on Metcalfe’s Law. This theory suggests value increases with more user adoption. Furthermore, Peterson anticipates Bitcoin could reach $1,000,000 by 2029, marking a 954% rise from current levels.
Bitcoin’s recent gains are substantial, with a 26% increase over fourteen days and a 39% increase over the past thirty days. Its market cap is estimated at $1.8 trillion, ranking it as a highly valuable asset, just behind major companies like Nvidia and Amazon.
