Although Bitcoin doubled in price last year, reaching a peak of over $108,246 per unit, the average return for investors was only about 40%.
Bitcoin (BTC) saw its price more than double in 2024. However, according to a recent report by CoinDesk, investors who purchased the world’s largest cryptocurrency earned an average profit significantly lower than the total price increase, based on actual purchase prices.
In H1 2024, Bitcoin reached a new price high in March, surpassing $73,750 when U.S. regulators approved spot ETFs, unlocking capital flows from major financial institutions. However, the largest cryptocurrency spent about half of 2024 stuck in a sideways movement. A market surge followed the victory of Donald Trump, a crypto-supporting candidate, which ignited enthusiasm. Bitcoin surged to a record high of over $108,246 on December 17th.
In the year’s final days, Bitcoin fell below a critical price range, dipping below $92,000 at one point. However, it bounced back, reaching over $100,000, and traded around $102,000 during most of January 7th. By January 9th, the price had dropped to the $94,700-$95,000 range.
Looking ahead, most analysts predict a significant price increase for BTC in 2025. Tom Lee, co-founder of Fundstrat Global Advisors, estimates that Bitcoin could reach $250,000, driven by the potential of spot ETFs and political changes in the U.S. under President Trump.
Bitwise Asset Management forecasts Bitcoin could hit $200,000 this year. Catalysts for this market include improved institutional investment, regulatory developments, and tighter supply due to the “Bitcoin halving,” which cuts mining rewards in half. However, the investment firm also cautions that the market could face headwinds, such as government sell-offs or investor disappointment due to Bitcoin’s volatility.
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