After Bitcoin surged this year, many cryptocurrency investors and industry executives declared that they expected the cryptocurrency to hit another all-time high in 2025. Just in December, Bitcoin, the world's largest cryptocurrency, passed the much-anticipated $100,000 mark and hit a record high price. Previously, Donald Trump won a historic election victory in November, and he declared during the campaign that he would support deregulation of cryptocurrency and "ensure that the United States becomes a cryptocurrency power."
Trump's impending return to the White House has boosted enthusiasm for cryptocurrencies, with many industry executives and analysts expecting him to promote a more favorable regulatory environment for digital assets.
During the campaign, Trump vowed to replace current Securities and Exchange Commission (SEC) Chairman Gary Gensler, who has taken aggressive legal action against various crypto companies. Gensler will resign from the SEC in 2025.
This year, the price of Bitcoin has more than doubled. Many cryptocurrency investors and industry executives now generally expect Bitcoin to experience more positive price momentum in 2025 - with some industry observers predicting its value will double to $200,000.
Geoffrey Kendrick, head of digital asset research at Standard Chartered Bank, said that the price of Bitcoin will double by 2025. Kendrick said in a report earlier this month that he expects Bitcoin to hit $200,000 by the end of 2025.
However, there are still economists who firmly believe that Bitcoin is a huge bubble.
Just in mid-December, Peter Schiff, a well-known American economist and monetary policy expert, once again expressed his views on the Bitcoin market, believing that Bitcoin has become a bubble bigger than the Internet bubble. He pointed out that Bitcoin’s market capitalization now exceeds $2 trillion, a figure that far exceeds the combined market capitalization of bankrupt companies during the Internet bubble in the 1990s.
He posted on social media that the market value of Bitcoin has exceeded US$2 trillion, exceeding the total market value of companies that perished during the Internet bubble in the 1990s. Even the largest Internet companies in the United States cannot compete with it.