Bitcoin has shown signs of recovery since the new year.
According to global cryptocurrency market tracking site CoinMarketCap on the 3rd, Bitcoin is trading at $96,860 as of 7:55 a.m. that day. This is a 2.21% increase compared to the previous day. Previously, Bitcoin had fallen to around $91,000 during trading on the 31st after hitting a record high of $108,268 on December 17, continuing its downward trend until it started to rise in the new year.
Bitcoin price forecasts are mixed. Standard Chartered Bank in the United Kingdom predicted that Bitcoin will reach $200,000 by the end of 2025. Jeff Kendrick, the bank's head of digital asset research, noted, “Institutional inflow into Bitcoin will continue at a pace greater than 2024 in 2025.”
However, some analysts suggest that it is uncertain whether President-elect Donald Trump’s pledges regarding cryptocurrencies will actually materialize. Jerome Powell, Chairman of the Federal Reserve (Fed), has expressed a negative stance on the strategic asset allocation of Bitcoin. Cryptocurrency-focused asset management firm CoinShares predicted, “If President-elect Trump’s pro-cryptocurrency policies are not realized, the price of Bitcoin could drop to $80,000.”