Bitcoin tops $30,000 for first time in 10 months
The banking turmoil of March has strengthened the belief among some that cryptocurrencies are an attractive alternative to traditional finance.
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| How much will Bitcoin be worth in 2025 |
Cryptocurrency Bitcoin has reached a 10-month high following the worst banking turmoil since the 2008 global financial crash and is now worth more than $30,000.
One Bitcoin was worth $30,438 in Asian trading on Tuesday, a high not seen since June last year - but still less than half the all-time high value of more than $67,000 in November 2021.
The leading cryptocurrency had been steadily increasing in value since March and tipped the $30,000 threshold amid expectations the US central bank, known as the Fed, will halt its interest rates increases, thereby maintaining borrowing costs as opposed to making lending more expensive.
However, market expectations now are that the Fed is unlikely to raise interest rates much higher for longer as it seeks to minimise stress on the banking sector.
More than a quarter of economic forecasters (28.6%) expect there will be no increase in the US interest rate next month, while the remaining 71.4% predict a 0.25 percentage points rise.
How much will Bitcoin be worth in 2025
- Market analysts believe BTC could reach $101,619.78 by 2025. Bearish Bitcoin market price prediction for 2023 is $23,227.38.
How high will Bitcoin be in 2050?
- By the year 2050, Bitcoin's average price could reach approximately $646,200. The minimum value of a Bitcoin during this period is estimated to be around $609,315. These figures indicate the potential for substantial growth over the long term.
Can Bitcoin reach zero?
- Hypothetically speaking, at least, the value of a cryptocurrency can collapse to zero, as witnessed in the Terra Luna price crash. However, for a currency as popular and valuable as Bitcoin, the fundamental foundations are most likely strong enough to withstand most threats and extremely disastrous incidents.