The path of bitcoin’s history is that of dramatic price cycles, characterised by rapid growth, and then sharp corrections. Second, we often correlate such cyclicity to event-based drivers, like technological advancements, geopolitical events and regulatory changes. After crossing past the $100,000 mark, and largely thanks to a major price surge in 2024, Bitcoin more than doubled its price. Many of these came after the approval of Bitcoin spot exchange-traded funds (ETFs) in the United States, which gave Bitcoin legitimization as an investment and made the traditional form of investing in the cryptocurrency market easier.
Financial experts believe that Bitcoin’s path to $200,000 could be driven by institutional adoption and favourable regulatory frameworks, which bolster investor confidence and liquidity in the market.
