Bitcoin’s price has surged past $102,000, marking a significant rebound from the challenges of late 2024. This dramatic price increase has erased previous losses and ignited renewed optimism in the cryptocurrency market.
According to George Tung, host of CryptosRus, several factors contribute to this resurgence. He cites Wall Street’s end-of-year activities, including profit-taking, tax harvesting, and portfolio rebalancing, as catalysts for the renewed interest. Furthermore, the anticipation of pro-crypto policies under the incoming Trump administration is expected to significantly influence the crypto landscape in the coming months.
Tung asserts that Bitcoin’s fundamental strength remains unchanged. “Fundamentally, nothing has changed for bitcoin,” he explains. “The selling from Wall Street is over, and 2025 is starting out with FOMO once again.” He points to a significant inflow of nearly a billion dollars last Friday as evidence of restored confidence in Bitcoin’s future. Tung emphasizes the robust underlying metrics, stating, “Fundamentals have never been better, with network activity, hash rate, and even Google searches hitting all-time highs.” This positive network activity reinforces the growing adoption and usage of Bitcoin.
Looking ahead, Tung anticipates increased volatility in the Bitcoin market throughout 2025, a characteristic typical of bull cycles. “Every cycle, we see bitcoin go up and down sometimes as much as 30%. This has been a tame cycle so far, but more volatility and consolidation points are expected.” Despite this anticipated volatility, he remains confident that Bitcoin will reach new highs in 2025. This prediction is based on the historical patterns of Bitcoin’s price movements and the current market sentiment.
Tung highlights the global enthusiasm for Bitcoin and the strategic moves by nations as further drivers of its growth. He believes that the establishment of strategic Bitcoin reserves by some countries will likely trigger a domino effect, prompting other nations to follow suit. “With the strategic reserve in place, other countries will follow. There’s already FOMO among countries and Wall Street, and the fundamentals are all pointing in the right direction,” he concludes. This global adoption, coupled with strong fundamentals, points towards a positive outlook for Bitcoin in the long term. The confluence of these factors suggests a strong potential for sustained growth and further price appreciation.
