Bitcoin Set To Surpass $100K By 2025, Says Unchained CEO Joe Kelly

Bitcoin BTC/USD is predicted to exceed $100,000 by 2025, following its next halving event in 2024, says a crypto executive, Business Insider reports.

Joe Kelly, CEO of Unchained, a cryptocurrency financial services firm, bases his prediction on Bitcoin’s previous three halving events. These events, which cut miners’ rewards in half, have historically led to significant price rallies.

“Taking a conservative view, if bitcoin stays around $30K until the halving, even a 12-month post-halving increase of 250% — which, again, is conservative relative to previous halvings — would price bitcoin at $105K,” Kelly wrote in a note Tuesday.

He added that the past halvings have resulted in price increases of 8,069%, 284%, and 559% within a year of the event.

Trade Bitcoin, Ethereum, and More Instantly — No Wallets, No Hassle

Speculate on price movements, claim up to $200 in bonuses, and start with risk-free paper trading with crypto futures on Plus500.

Disclosure: 82% of retail CFD accounts lose money

Bitcoin has already surged 77% in 2023, rebounding from a 65% sell-off in the previous year. This surge coincides with historic interest rate hikes from the Federal Reserve and a series of bank failures.

Image via Shutterstock

Engineered by Benzinga Neuro, Edited by Pooja Rajkumari

The GPT-4 Benzinga Neuro content generation system exploits the extensive Benzinga Ecosystem, including native data, APIs, and more to create comprehensive and timely stories for you. Learn more.

$BTCBitcoin

$104175.001.34%