How High Can Bitcoin Price Go? Experts Explained! There is a 1 Million Dollar Estimate

Bitcoin’s price has risen by nearly 40% since the start of 2024, but the expected bull run has yet to fully materialize. BTC is showing a strong outlook at around $60,000, with some analysts remaining optimistic that it could rise to $200,000 within the next year.

The Fed is a major factor on everyone’s radar. As Fed Chair Jerome Powell prepares for his upcoming remarks, the market is preparing for hints of potential rate cuts. According to CME FedWatch data, there is a 100% chance the Fed will cut interest rates at its September meeting, reflecting broad market confidence.

The cooling of inflation is another positive sign. Analysts like David Brickell, director of international sales at FRNT Financial, and Chris Mill, a former forex trader, believe this trend is paving the way for a rate cut. In their latest newsletter, “Connecting the Dots,” they outline how the combination of looser monetary policy, a weaker U.S. dollar, increased global liquidity, and rising risk appetite could propel Bitcoin to new record highs.

“The bullish evolution in the macro paved the way for Bitcoin’s next leg to new record highs,” they said.

Low interest rates typically benefit assets like cryptocurrencies because they push investors away from lower-yielding options like Treasuries and toward riskier, higher-yielding investments. The broader landscape is favorable for crypto enthusiasts, but the U.S. election in November could create volatility.

The race between former President Donald Trump and Vice President Kamala Harris is a particularly interesting one. While Trump has been vocal in his support for the crypto industry, Harris’ stance is less clear. Some experts, like Triple Crown Digital’s Noelle Acheson, attribute the recent market decline to Harris gaining ground in the polls. “What we’re seeing is a disturbing return of uncertainty,” Acheson said. A tighter race could spell trouble for those who support Trump as the industry’s preferred candidate.

The ongoing boom in artificial intelligence (AI) has also played a role in supporting Bitcoin’s outlook. AI-focused tech stocks have reached record highs this year, with many investors pouring funds into the intersection of AI and crypto. Some Bitcoin miners under financial pressure have diversified by providing computing power to AI developers. This diversification could act as a buffer against macroeconomic pressures and help stabilize Bitcoin’s price, according to Bernstein’s research.

The firm predicted in a July note that rising investor interest in spot Bitcoin ETFs, combined with artificial intelligence trends, could set the stage for a historic rally. Bernstein predicted that Bitcoin could reach $200,000 by the end of 2025, $500,000 by 2029, and even surpass $1 million by 2033.

*This is not investment advice.

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