Bitcoin Reenters Price Discovery—How High Will It Go?

Bitcoin hit a new all-time high of $109,565 on Wednesday, completing a substantial comeback (and then some) after dropping as low as $75,000 in early April.

The rebound is buoyed by renewed risk appetite from investors as President Trump has toned down his trade war rhetoric, seeking deals with trading partners after slapping them with sizable tariffs.

Still, Bitcoin has more room to run, according to the experts—with some industry observers predicting a $200,000 top. 

Others are predicting even higher jumps, whether they’re expected later this year or beyond. Here’s a look at some of the massive targets that crypto experts have placed on Bitcoin lately.

Adam Back, Blockstream CEO: $500,000 to $1 million this cycle 

Blockstream boss and Bitcoin legend Adam Back spoke to Decrypt last week, and predicted the biggest and oldest digital coin would hit $500,000 to $1 million this cycle. 

In an interview, the computer scientist said that the price of BTC was surprisingly low at this point after last year’s halving, considering all the institutional money involved. “I think if you get a new all-time high, it could quickly become a lot higher,” he said.

Standard Chartered: $200,000 this year

British bank Standard Chartered’s digital assets research team is bullish, to say the least. The bank’s Global Head of Digital Assets Research Geoffrey Kendrick has repeatedly said that the virtual coin would soar this year—despite Trump tariffs and other geopolitical factors—and is predicting a $200,000 high by the end of 2025. 

His reasoning? U.S.-based investors wanting a non-sovereign asset. “We expect a strategic asset reallocation away from U.S. assets to trigger the next sharp upswing in Bitcoin in the coming months,” he said in April. 

Even more bullish is the analyst’s outlook for the next few years: $500,000 per coin by the time President Trump leaves office at the start of 2029.

Bernstein: $200,000 this bull run 

Investment firm Bernstein has also bet on Bitcoin’s price hitting new highs, with analysts at the firm regularly saying that institutional money will be the main driver. The firm expects companies to snap up $330 billion in Bitcoin over the next five years.

“The Bitcoin genie is out of the bottle, and it is hard to reverse this course,” Bernstein analysts said last year before crypto-friendly President Trump won the U.S. election. 

Bernstein analysts in 2024 and this year have forecast that BTC’s price will end 2025 at $200,000. 

Arthur Hayes: $150,000 in 2025

Billionaire entrepreneur Arthur Hayes is known for his outlandish predictions—even once referring to long-term forecasts as “pretty shit.”

Still, the former BitMEX boss knows his macro and has predicted intense central bank money printing to push BTC’s price to the moon. 

Similar to Standard Chartered, he thinks investors will want to leave American assets behind. “Bitcoin is the perfect and only lifeboat for global capital that must leave America and elsewhere,” he wrote in a recent blog post, predicting a $150,000 high this year. 

Tim Draper: $250,000 this year

Billionaire investor Tim Draper recently went as far as to say that companies that didn’t hold BTC on their balance sheets were being “irresponsible.”

The Silicon Valley venture capital investor and founder of Draper Associates said earlier this month that by the end of 2025, he believes Bitcoin will hit $250,000, noting a “gravitational pull toward Bitcoin.”

BlackRock’s Larry Fink: $700,000… eventually 

BlackRock boss Larry Fink, who has massively helped institutions get involved in buying BTC with the launch of the popular iShares Bitcoin Trust, said that the coin could hit $700,000. 

Speaking in January at the World Economic Forum in Davos, the CEO of the world’s largest asset manager said that if institutions like sovereign wealth funds continued to make even small allocations to the asset, the orange coin’s price would rocket upwards. 

But the Wall Street titan did add that he wasn’t promoting the cryptocurrency with his bullish bet. 

Brian Armstrong: Multi-millions… at some point 

The CEO of America’s biggest crypto exchange Coinbase forecast in January that Bitcoin will be worth “multiple millions”—at some point in the future.

Brian Armstrong, who founded the San Francisco, California-based exchange in 2012, said that nation-state adoption would help propel the asset that high. 

“I think over time we’ll see Bitcoin get into the multiple millions price range,” he said.

Still, Armstrong, whose firm has contracts with the U.S. government, added that BTC has a long way to go before rising that high.

Edited by Andrew Hayward