## Bitcoin's Upcoming Bull Market

According to **H.C. Wainwright**, Bitcoin and cryptocurrency miners are poised for a **significant bull market** following a record year in **2024**. As the market shows signs of recovery, analysts are optimistic about the future performance of Bitcoin.

![Bitcoin Bull Market](https://s.yimg.com/ny/api/res/1.2/y4VQLP_2skMwAnWM4m1ySQ--/YXBwaWQ9aGlnaGxhbmRlcjt3PTEyNDI7aD02MzA-/https://media.zenfs.com/en/ibd.com/f1555259494488e60d40c019d0807b50)

### Key Predictions
- Analysts are targeting **$225,000** for Bitcoin in the near future, indicating a strong potential for growth.
- The bullish sentiment is driven by increased interest from both retail and institutional investors.
- As more companies and individuals adopt cryptocurrencies, the market is expected to expand significantly.

This surge in interest and investment can lead to an influx of capital into the cryptocurrency market, potentially setting the stage for Bitcoin to break previous all-time highs.

Stay tuned as we monitor the developments in the cryptocurrency space and provide updates on Bitcoin's performance and market trends.

Bitcoin and cryptocurrency miners are set for a major bull market after notching a record year for 2024, H.C. Wainwright writes.

Analyst Predicts Bitcoin's Bull Market: Could It Reach $225,000 Soon?

Bitcoin is kicking off **2025** in a position of strength, backed by **robust fundamentals** and **unprecedented momentum**.

![Bitcoin Loyalty Sign](https://specials-images.forbesimg.com/imageserve/677864b215410df43e532ae6/BERLIN--GERMANY--A-sign-announces-a-proprieter-s-loyalty-to-bitcoin--where-it-is/960x0.jpg?fit=scale)

The network’s **hash rate** has reached an **all-time high**, showcasing computing power that surpasses the combined resources of **Amazon AWS**, **Google Cloud**, and **Microsoft Azure** by **orders of magnitude**.

Simultaneously, the number of **on-chain wallet addresses** holding at least **$100** or **$1,000** in bitcoin has surged to record levels, indicating that **adoption among retail users** is accelerating alongside **institutional demand**.

**Institutions**, once cautious participants in the bitcoin ecosystem, are now doubling down. **U.S.-traded bitcoin exchange-traded funds (ETFs)** have more than doubled their combined holdings over the past year, growing from **650,000 BTC** to an astounding **1,250,000 BTC**. **Tether**, the stablecoin titan, made its largest bitcoin purchase since early 2024, adding over **7,600 BTC** to its reserves. **MicroStrategy** also acquired another **2,138 BTC**, reinforcing its status as a corporate bitcoin juggernaut.

The trend isn’t limited to companies and retail investors – **sovereign states** are getting in on the action. **El Salvador’s bitcoin holdings** surpassed **6,000 BTC**, while lawmakers in **Hong Kong** are considering adding bitcoin to the city’s official reserves.

In the U.S., proposals for a **strategic bitcoin reserve** are gaining traction under a new incoming administration that has promised to ease regulations and establish a national bitcoin stockpile.

Against this backdrop, global macroeconomic conditions are also aligning in bitcoin’s favor. **China’s bond market** is faltering, and analysts predict that central banks worldwide may soon resume **monetary easing**—an event that has historically correlated with sharp increases in bitcoin’s value.

### Institutional Confidence: The ETF Explosion
One of the clearest signs of bitcoin’s mainstream acceptance is the flurry of bitcoin ETF proposals flooding the market. In just the past few weeks, **Strive**, **Bitwise**, **REX Shares**, and **ProShares** have each unveiled specialized bitcoin funds targeting distinct investor needs.

**Strive’s Bitcoin Bond ETF** focuses on convertible bitcoin-backed bonds issued by companies like **MicroStrategy**, offering investors an innovative way to gain indirect bitcoin exposure while earning potential fixed-income returns. **Bitwise’s Bitcoin Standard Corporations ETF** takes a different angle, bundling shares of public companies that hold at least **1,000 BTC** in their treasuries.

Meanwhile, **BlackRock’s IBIT Fund** has become the poster child for bitcoin’s institutional surge, amassing over **$50 billion** in assets in just 11 months, earning the title of the **greatest ETF launch in history**.

### New Innovations: NYDIG’s Bitcoin Lending Strategy
As the financial landscape evolves, firms are racing to develop products that capitalize on bitcoin’s expanding role in global finance. **NYDIG** is seeking to use "float"—funds held in reserve, similar to insurance premiums—as a financing source for bitcoin-backed loans. This strategy could unlock a vast pool of capital and reinforce bitcoin’s position as a premier form of collateral.

### Bitcoin’s Push into Mainstream Finance
In another sign of bitcoin’s growing integration into legacy financial systems, **Morgan Stanley’s E-Trade** is preparing to roll out direct bitcoin trading on its platform, marking a significant pivot for the traditional brokerage.

### Sovereign States and Bitcoin Reserves
The narrative of national bitcoin adoption continues to gain momentum. A new initiative in **Switzerland** aims to require the **Swiss National Bank** to hold part of its reserves in bitcoin and gold. Analysts predict that more nations will begin accumulating bitcoin reserves in **2025**, with leaders in **Germany** and **Hong Kong** already signaling interest.

As 2025 unfolds, all signs point to a continued bitcoin **bull market**. Analysts project that bitcoin could reach **$185,000** this year, driven by rising adoption among institutions, corporations, and nation-states. The convergence of institutional adoption, national interest, and macroeconomic tailwinds suggests that 2025 could be a pivotal year.

Bitcoin is kicking off 2025 in a position of strength, backed by robust fundamentals and unprecedented momentum.

Bitcoin's Explosive Start to 2025: What It Means for the Future

### A Meeting of Influencers

Prominent Bitcoin advocate **Michael Saylor** recently had a noteworthy meeting with **Eric Trump** at the luxurious **Mar-a-Lago** estate. Saylor shared a photo of the two, highlighting the significance of their discussion.

### Bitcoin on the Menu

In his social media post, Saylor declared, "**Bitcoin is on the menu at Mar-a-Lago**," suggesting a growing acceptance and integration of cryptocurrency within influential circles. This statement not only emphasizes the rising prominence of Bitcoin but also hints at a potential shift in how digital currencies are perceived in elite social settings.

### Implications for Bitcoin

The meeting between Saylor and Trump may indicate an increased interest in Bitcoin among high-profile figures, possibly influencing public perception and investment trends. As Bitcoin continues to gain traction, discussions like these could play a pivotal role in shaping its future in the financial landscape.

Prominent Bitcoin advocate Michael Saylor has met with Eric Trump, sharing a photo of the two from a meeting in Mar-a-Lago. What Happened: Saylor shared a photo of himself and Eric Trump with the statement, "Bitcoin is on the menu at Mar-a-Lago," in ...

Michael Saylor and Eric Trump: A Surprising Bitcoin Revelation at Mar-a-Lago

### MicroStrategy's Stock Surge

On Friday afternoon, **MicroStrategy's share price** rebounded to **$341.14** after a tumultuous 24 hours during which it had plummeted by **40%**. This recovery comes on the heels of the firm’s announcement regarding the acquisition of **2,138 bitcoins** at an average price of **$97,837 each**, totaling an investment of approximately **$209 million**. This marks the company's **eighth consecutive week** of bitcoin purchases.

### Bitcoin Holdings

With this latest acquisition, MicroStrategy now holds a staggering **446,400 bitcoins**, which were amassed at an average cost of around **$62,428 per bitcoin**, leading to a total investment of approximately **$27.9 billion**. Earlier this month, MicroStrategy achieved a significant milestone by securing a spot on the **Nasdaq 100**, a benchmark for the top 100 non-financial firms listed on the Nasdaq, outperforming both **bitcoin** and **Nvidia** in returns.

### Leadership and Vision

The company's CEO, **Michael Saylor**, a well-known bitcoin maximalist, has been vocal about the transformative potential of bitcoin. At the **Bitcoin 2023 conference** in Miami, he stated, “**Bitcoin fixes things. Bitcoin can help everybody. Bitcoin is here to stay. Bitcoin is the future.**”

### Criticism of Investment Strategy

Despite the bullish outlook, MicroStrategy's aggressive accumulation strategy has drawn criticism. An expert described it as a **"leveraged vehicle for holding bitcoin in the guise of a software company"**, suggesting that the firm’s bitcoin investments are speculative and may invite volatility, raising concerns about the sustainability of its business model for shareholders.

After seeing its stock price slide this week, MicroStrategy's shares rose on Friday.

MicroStrategy's Bold Bitcoin Bet: Stock Rebounds After $200M Purchase

### A Shift in Perception
After years of skepticism, prominent crypto critics have begun to concede that a regulatory crackdown on cryptocurrency is unlikely. In a recent episode of the **Crypto Critics' Corner** podcast, skeptics Cas Piancey and Bennett Tomlin admitted, "They win, we lose."

### Dearth of Obituaries
This capitulation is echoed by **99Bitcoins**, which has tracked Bitcoin's supposed 'deaths' since 2010. In 2024, only **two obituaries** were recorded—the lowest since 2012. This decline from **124 obituaries** in 2017 signifies a major shift in how Bitcoin is perceived.

![Bitcoin Obituaries](https://specials-images.forbesimg.com/imageserve/677837e1f6f6bfe9997d6f44/The-chart-tracks-the-frequency-of--Bitcoin-obituaries----articles-declaring-Bitcoin-s/960x0.png?fit=scale)

### Bitcoin ETF: Breaking All Records
The **approval of Bitcoin ETFs** in March 2024 significantly contributed to this perception shift. The **BlackRock iShares Bitcoin Trust** reached **$10 billion in assets** within just seven weeks, ultimately accumulating **over $50 billion** by the end of the year. This marks a pivotal moment, as Bitcoin ETFs are nearing the scale of traditional gold ETFs.

### Bitcoin Enters Mainstream Politics
In 2024, Bitcoin gained political traction, with Donald Trump evolving from a skeptic to a vocal supporter. His participation in the **Bitcoin 2024 Conference** and the selection of crypto advocate JD Vance as his running mate underscore this shift. Moreover, discussions in Washington are now centered on the strategic integration of Bitcoin into the national economy.

### The Broader Crypto Evolution
The acceptance of cryptocurrency is not limited to Bitcoin; stablecoins are also gaining traction, processing monthly transaction volumes comparable to traditional payment networks. The decline in Bitcoin obituaries signals that cryptocurrency has transitioned from speculation to an established part of the financial landscape.

The year 2024 is a landmark moment where even critics must acknowledge that cryptocurrency is here to stay.

After years of investigating and criticizing crypto, critics conceded that their long-predicted regulatory crackdown was unlikely to materialize.

2024: The Year Bitcoin Defied All Odds and Critics?

### Bitcoin's Evolving Role in Finance

The future of **bitcoin** isn't a straightforward winner-takes-all scenario where it either replaces the existing financial system or fails entirely. Instead, it's evolving into a **multifaceted financial technology**, serving various purposes for different users.

![Bitcoin](https://arizent.brightspotcdn.com/dims4/default/4f636a3/2147483647/strip/true/crop/4084x2723+0+0/resize/740x493!/quality/90/?url=https%3A%2F%2Fsource-media-brightspot.s3.us-east-1.amazonaws.com%2F6a%2F5c%2F021cd14e402297d3e40c6544ac83%2Fadobestock-84629998.jpeg)

### Rigid Categories are Limiting
The debate about **bitcoin's role** in the global financial system often falls into rigid categories like alternative currency, digital gold, or inflation hedge. However, researchers at the **European Central Bank** argue that bitcoin is merely **speculation** and **unsuitable for investment**.

### A Nuanced Reality
For over a decade, we've witnessed regular market cycles, **institutional adoption**, and a highly emotional public debate about **bitcoin's societal role**. The reality is more nuanced; bitcoin serves a range of different purposes for various communities.

### Bitcoin as a Medium of Exchange
In **emerging markets** experiencing inflation and distrust in institutions, bitcoin serves as a practical medium of exchange. Nations like **El Salvador** and **Argentina** are embracing cryptocurrency, with **bitcoin-backed bonds** potentially easing sovereign debt.

### The Digital Gold Narrative
While bitcoin’s fixed supply makes it an appealing hedge against monetary expansion, this view is incomplete. Its unique cultural significance and appeal among younger generations reflect a statement about **governance and decentralization**.

### A Safe Haven in Crisis
Bitcoin could emerge as an important safe haven amidst global challenges like rising debt and geopolitical tensions. In a de-globalized world, it may serve as **neutral money**, bridging opposing economic blocks.

### Gradual Integration
The most likely future involves continued **gradual integration** into the financial system, driven by institutional infrastructure and regulatory frameworks like **MiCA in Europe**. Rather than replacing the system, bitcoin is spurring its modernization.

### The Multiplicity of Bitcoin's Roles
Bitcoin's flexibility indicates that while it may not fulfill any single narrative completely, it is embedding itself in the global financial landscape. This multiplicity makes it both an **inflation hedge** for investors and an **alternative currency** in emerging markets.

### Moving Beyond Binary Thinking
For traditional institutions, this means moving beyond binary thinking about bitcoin’s relevance and focusing on frameworks that accommodate its diverse functions. **Switzerland** has created regulatory frameworks for digital assets, but it risks losing ground to other hubs like the **U.S.**.

### Understanding Bitcoin's Value Proposition
Investors need to grasp bitcoin's multifaceted value proposition. While investing in bitcoin carries risks, ignoring it could be even riskier.

The future of bitcoin is not about a single role but about its **adaptability** and how it serves various purposes in our financial landscape.

The future of bitcoin isn't a winner-takes-all scenario where it either replaces the existing financial system or fails entirely. Instead, it's evolving into a multifaceted financial technology.

Bitcoin: The Multifaceted Future of Finance You Didn't Expect

### Understanding the Realized Price of Bitcoin

The **average realized price** for Bitcoin (BTC) buyers in 2024 reached **$65,901**. While the price of Bitcoin more than doubled in 2024, the realized price gives a different picture of investor gains.

The **realized price** is calculated based on the last on-chain movement of Bitcoin, which has historically averaged around **$41,000** since 2009. For those purchasing Bitcoin last year, the realized price stood at **$65,901** by the end of December. With the market closing around **$93,000**, this means 2024 buyers were sitting on an **unrealized profit** of approximately **40%**.

### Importance of Monitoring the Realized Price

Monitoring the realized price is crucial for assessing overall profit or loss among individual investors. For 2024's investors to break even, Bitcoin's price would need to drop about **31%**. Furthermore, when Bitcoin's price fell below the realized price, it often indicated a local bottom, providing a potential trading strategy.

As we enter **2025**, the average cost basis for Bitcoin is around **$95,500**, suggesting that buyers are starting the year with a slight profit as Bitcoin trades over **$96,000**.

Historically, the realized price also serves as a **strong support level** during bear markets, rarely trading below this metric.

![BTC Realized Price : (Glassnode)](https://www.coindesk.com/_next/image?url=https%3A%2F%2Fcdn.sanity.io%2Fimages%2Fs3y3vcno%2Fproduction%2F633230c89af8ff985d6c84ab870b65351a2a6c79-1800x1013.png%3Fauto%3Dformat&w=1920&q=75&dpl=dpl_EY98mg2CffmP7TFmnb8io9BMwWsv)



The average realized price of 2024 buyers in bitcoin was $65,901. 

2024 Bitcoin Buyers: Unveiling the 40% Average Gain and Realized Price Insights

### The Vision for 2025
The analysts at **VanEck**, **Matthew Sigel** (Head of Digital Asset Research) and **Patrick Bush** (Senior Investment Analyst), have published their **10 predictions** for the cryptocurrency market in **2025**. Here’s a summary:

1. **The crypto bull market will reach a mid-term peak in Q1 and set new highs in Q4.**  
   We believe the crypto bull market will persist until 2025, reaching its first peak in the first quarter. At the cycle’s peak, we project **Bitcoin (BTC)** to be valued at approximately **$180,000**, and **Ethereum (ETH)** to trade above **$6,000**.

2. **The United States adopts Bitcoin as a strategic reserve and increases cryptocurrency adoption.**  
   The election of **Donald Trump** has already provided a significant boost to the cryptocurrency market, with his administration appointing crypto-friendly leaders to key positions, marking the end of anti-crypto policies and positioning **Bitcoin** as a **strategic asset**.

3. **The value of tokenized securities surpasses $50 billion.**  
   We anticipate **2025** will be the year **tokenized securities** take off, with potential growth from the current **$12 billion** in tokenized securities on blockchains.

4. **Stablecoin daily settlement volumes reach $300 billion.**  
   By the end of 2025, we project that stablecoins will settle daily transfers of **$300 billion**, becoming a central part of global commerce.

5. **On-chain AI agent activity surpasses 1 million agents.**  
   The rise of **AI agents** will help users achieve outcomes like maximizing returns, leading to a massive proliferation of agents.

6. **Bitcoin Layer 2s (L2s) reach 100,000 BTC in Total Value Locked (TVL).**  
   **Bitcoin L2** blockchains will enhance Bitcoin’s scalability and introduce **smart contract functionality**, paving the way for a robust **DeFi ecosystem**.

7. **DeFi reaches all-time highs with $4 trillion in DEX volumes and $200 billion in TVL.**  
   We anticipate **DEX trading volumes** will exceed **$4 trillion** in 2025, reflecting the growing demand for decentralized financial infrastructure.

8. **The NFT market recovers with trading volumes reaching $30 billion.**  
   Following a hard hit in the bear market, the **NFT sector** is expected to rebound, attracting affluent new users.

9. **DApp tokens narrow the performance gap with L1 tokens.**  
   As innovative **dApps** launch, we expect a shift in performance dynamics, highlighting the importance of utility in the evolving cryptocurrency landscape.

10. **Emergence of new consumer-oriented decentralized apps.**  
   These apps will enhance user engagement and drive interest in the cryptocurrency market.

The analysts at VanEck, Matthew Sigel (Head of Digital Asset Research) and Patrick Bush (Senior Investment Analyst), have just published their 10 predictions for the cryptocurrency market in 2025. Here’s a summary: The crypto bull market will reach a mid-term peak in the first quarter and set new highs in the fourth quarter.  We believe…Continuar leyendo

Analyst Predicts Bitcoin's Bull Market: Could It Reach $225,000 Soon?

Summary:

Bitcoin's Upcoming Bull Market

Key Predictions

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