Regulatory relaxation, macroeconomic environment and investment demand will support BTC to have greater room for growth this year

Odaily星球日报 reports that in recent weeks, the price of Bitcoin has declined, with a significant pullback from the record high of over $108,000 reached in mid-December, dropping nearly 3% during the month, but the annual increase in 2024 is still expected to reach around 120%. The remarkable rise of Bitcoin this year can be attributed to three bullish factors - optimistic sentiment about regulatory easing, an improved macroeconomic environment, and surging investment demand. Analysts predict that this cryptocurrency may have greater upside potential in 2025. Fundstart Global Advisors' founder Tom Lee expects Bitcoin to reach $250,000 in 2025, while Standard Chartered Bank's forecast is $200,000. Over the past two bull market cycles since 2017, Bitcoin has set new highs every four years, with each bull market cycle seeing gains between 2300% and 1700%, followed by a 70% to 80% pullback. Since reaching a low of $16,000 two years ago, Bitcoin has soared by around 600%, indicating its immense potential for further upside in the next two years. (BusinessInsider)