Bitcoin Hits $25,000, What’s Next?

Bitcoin hits $25,000! What’s next? Since last weekend, Bitcoin (BTC) enthusiasts have been giving updates on the price.

The Increase

Recently, the community has been talking about the latest growth in Ethereum (ETH) price leading up to ‘The Merge’. However, ETH is not the only one with an increase. Bitcoin (BTC) price also has been improving these past few days.

On Saturday, CoinMarketCap showed the Bitcoin (BTC) price was up to $25,000. It was the first time back since June 13th. Not long after that, the Bitcoin (BTC) price was down to around $24,500. However, it is back to $25,000 again. At the time of writing, Bitcoin (BTC) price is $25,033. BTC is still on the top of the CoinMarketCap cryptocurrencies ranking ladder.

Bitcoin Price

(Source: CoinMarketCap)

The reason for the change may be related to the cooling inflation. It is good news after Bitcoin, and other cryptos, experienced a meltdown in the market due to inflation and potential global recession in the past few months.

However, the current price is still lower than its highest rate in November 2021, which reached $69,044.

What’s Next?

Some experts in the industry are confident that the Bitcoin (BTC) price will rise along with Ethereum (ETH) price, which will start the next bull market. But, others may disagree with it, including the CEO of Galaxy Digital, Mike Novogratz.

In a recent interview with Bloomberg on August 9th, he stated that based on the current situation, he does not see the price reaching $30,000. He said, “I [quite] frankly would be happy if we are in a $20,000, $22,000, or $30,000 range for a while.”

However, with the recent development, the community is excited to see what will happen next in the BTC price.

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