Bitcoin (BTC) price predictions for 2025

After a thrilling rally in bitcoin this year, crypto investors and industry executives told CNBC they expect the flagship cryptocurrency to reach new all-time highs in 2025.

In December, the world’s largest cryptocurrency broke the long-awaited $100,000 mark, setting a record high price above that mark. That came after Donald Trump — who ran on a prominent pro-crypto policy platform — won a historic election victory in November.

Trump’s impending return to the White House has boosted sentiment around crypto, with many industry executives and analysts expecting him to promote a more favorable regulatory environment for digital assets.

During his election campaign, Trump promised to replace incumbent Securities and Exchange Commission Chairman Gary Gensler, who has taken aggressive legal action against several crypto companies. Gensler agreed to resign from the SEC in 2025.

Trump has also indicated that the US could create a strategic bitcoin reserve by pooling funds obtained through seizures from criminal activities.

Also in 2024, bitcoin surpassed the 2021 price milestone of nearly $70,000 after the SEC gave the green light to the first US spot bitcoin exchange-traded funds (ETFs).

The ETF’s approval was widely seen as a key moment for the cryptocurrency as it broadens its appeal to more mainstream investors.

The other major moment in 2024 was the halving, an event that happens every four years and reduces the supply of bitcoin on the market. This is generally very supportive for the price of bitcoin.

These developments have helped move crypto beyond the narrative of a scandal-marred industry. That was the dominant theme of 2023 as two of crypto’s most prominent figures – FTX’s Sam Bankman-Fried and Binance’s Changpeng Zhao – both received prison sentences on criminal charges.

This year, Bitcoin has more than doubled in price. The token is widely expected to see even more positive price momentum in 2025 – with several industry watchers predicting a doubling in value to $200,000.

James Butterfill, head of research at crypto-focused asset manager CoinShares, told CNBC that he expects bitcoin to reach prices of both $150,000 and $80,000 by 2025.

Butterfill said it wouldn’t be “unreasonable” in the long term to expect bitcoin to become worth around 25% of gold’s market share – up from around 10% currently. That would amount to a price of $250,000.

But he doesn’t see that happening next year. “However, the timing of this is very difficult and I don’t expect this to happen in 2025, but it will move in that direction,” Butterfill told CNBC via email.

He said it is “likely” that Bitcoin could reach both $80,000 and $150,000 over the course of the year.

If Butterfill’s $80,000 call is reached, it would be the result of Trump’s promised pro-crypto policies not materializing.

“Disappointment surrounding Trump’s proposed crypto policy and doubts about its implementation could lead to a significant market correction,” Butterfill said.

Next year, Butterfill expects a favorable US regulatory environment to be the main driver of bitcoin prices.

In 2023, CoinShares predicted that Bitcoin would reach $80,000 by 2024.

Matrixport, a crypto-financial services company, said Bitcoin could reach $160,000 by 2025.

“This outlook is supported by continued demand for Bitcoin ETFs, favorable macroeconomic trends and a growing global liquidity pool,” Markus Thielen, head of research at Matrixport, told CNBC by email.

Bitcoin is known to be highly volatile, with the potential for corrections of between 70% and 80% from record highs. Thielen said the decline will be “less pronounced” in 2025.

“The growing base of Bitcoin buyers and robust institutional support are expected to mitigate severe corrections,” Thielen said.

Matrixport predicted in 2023 that Bitcoin would reach $125,000 by 2024.

Alex Thorn, head of research at crypto-focused asset manager Galaxy Digital, expects Bitcoin to surpass $150,000 in the first half of the year before reaching $185,000 in the fourth quarter.

“A combination of institutional, corporate and national adoption will propel Bitcoin to new heights in 2025,” Thorn wrote in a research note shared with CNBC.

“Throughout its existence, Bitcoin has increased in value faster than all other asset classes, most notably the S&P 500 and gold, and that trend will continue in 2025. Bitcoin will also reach 20% of gold’s market cap.”

Galaxy predicts that U.S. spot-traded bitcoin products will collectively exceed $250 billion in assets under management by 2025.

The company also expects five Nasdaq 100 companies and five nation states to add bitcoin to their balance sheets or sovereign wealth funds next year.

Geoffrey Kendrick van Standard chartered calls for a doubling of the price of bitcoin. The bank’s head of digital asset research said in a note earlier this month that he expects Bitcoin to reach $200,000 by the end of 2025.

Standard Chartered expects institutional flows into bitcoin next year to “continue at or above the 2024 pace.”

Bitcoin inflows from institutions have already reached 683,000 BTC since the beginning of the year, the bank noted, through US spot ETFs largely bought by MicroStrategya software company and effective bitcoin proxy.

Kendrick said Bitcoin purchases by MicroStrategy next year “should match or exceed purchases in 2024.”

Pension funds should also start adding more bitcoin to their portfolios through US spot ETFs next year, thanks to the incoming Trump administration’s expected reforms to rules for so-called “TradFi” (traditional finance) companies investing in digital currencies, he added.

“Even a small allocation of $40 trillion to US pension funds would significantly increase BTC prices,” Kendrick noted. “We would become even more bullish if BTC saw faster adoption by US pension funds, global sovereign wealth funds (SWFs) or a potential US strategic reserve fund.”

Carol Alexander, professor of finance at the University of Sussex, sees $200,000 bitcoin as a possibility next year.

“I’m more optimistic than ever for 2025,” Alexander told CNBC, adding that Bitcoin’s price “could easily reach $200,000, but there are no signs of volatility easing.”

“By the summer I expect the price to be around $150,000 plus or minus $50,000.” Alexander clarified that she does not own any bitcoin herself.

Explaining her rationale, Alexander said supportive US regulations will boost bitcoin, but a lack of regulation on crypto exchanges will continue to drive volatility due to highly leveraged transactions that send prices shooting up and down.

Alexander has a history of correctly determining the price of Bitcoin. Last year she told CNBC that Bitcoin would reach $100,000 by 2024, which it did.

Youwei Yang, chief economist at Bit Mining, predicts that Bitcoin will reach a price between $180,000 and $190,000 by 2025 – but he is also cautious about possible price drops.

“The price of Bitcoin is likely to experience both significant upward momentum and occasional sharp corrections in 2025,” Yang told CNBC. “In moments of market shocks, such as a major stock market downturn, bitcoin could temporarily fall to around $80,000. However, the overall trend is expected to remain bullish.”

Factors underlying an expected Bitcoin rally in 2025 include lower interest rates, Trump support, and greater institutional adoption.

“Based on these dynamics, I predict that Bitcoin could peak at $180,000 to $190,000 by 2025, in line with historical cycle patterns and growing mainstream adoption of crypto,” Yang said.

Nevertheless, Yang also expects some “corrections” for the price of bitcoins next year.

Downside risks include US-China tensions, global capital market disruptions, possible unexpected restrictive measures and potential delays in the Fed’s rate-cutting cycle.

Last year, Yang predicted that Bitcoin would reach $75,000 by 2024.

Sid Powell, CEO and co-founder of centralized finance platform Maple Finance, is targeting a price range of $180,000 to $200,000 for Bitcoin by the end of 2025.

“If you look historically, when we saw gold ETFs come in, the inflows in the first year increased dramatically in subsequent years — and I think we can expect that with the bitcoin ETFs,” Powell told CNBC’s “Squawk Box Europe.”

“I think we will see higher inflows in the coming years as Bitcoin and crypto become a core allocation for institutional asset managers,” Powell added.

Another factor Powell sees rising in the price of bitcoin is the anticipation of a strategic bitcoin reserve in the US

Yet the boss of Maple Finance is aware of the market decline. “I think of course you will see corrections – crypto remains a cyclical industry,” Powell told CNBC.

In previous market cycles, Bitcoin has soared over the course of a few months before falling sharply in value.

Take the previous cycle for example: in 2021, bitcoin rose to almost $70,000 as more and more investors piled in, but the following year the token plummeted to less than $17,000 due to a series of bankruptcies of major crypto companies.

However, Powell emphasized that the 70% to 80% declines Bitcoin has seen in recent cycles are unlikely in 2025, “because there is more of a cushion of those institutional inflows into the sector.”

Elitsa Taskova, chief product officer of crypto lending platform Nexo, is more optimistic about bitcoin’s 2025 prospects than the general consensus.

“We see bitcoin more than doubling to $250,000 within a year,” Taskova told CNBC, adding that in the longer term — such as over the next decade — she sees the entire crypto market cap surpassing that of gold.

“These projections are consistent with ongoing trends and social characteristics: increasing recognition of Bitcoin as a reserve asset, more Bitcoin and crypto-related exchange-traded products (ETPs), and stronger adoption,” Nexo’s product chief said.

Supportive macroeconomic conditions, such as an easing of monetary policies from the world’s major central banks, are likely to boost bitcoin, she added.

“The Federal Reserve’s balancing act – controlling interest rates and inflation while avoiding stagnation – will be critical,” she said, warning that on the other hand, persistent inflation could also lead to an aggressive reversal .

“As the US leads the way in crypto-related capital deployment, interest rate decisions and inflation dynamics are likely to remain important influences on bitcoin’s price in 2025.”