30s Summary

Georgii Verbitskii, founder of the TYMIO DeFi platform, predicts Bitcoin could reach between $100,000 and $120,000 by late 2024 or early 2025, with the potential to hit $180,000 by the end of 2025. He advises traders to diversify and manage risk to avoid losses. Verbitskii foresees a possible Bitcoin supply shock due to the 2024 block subsidy reduction, future halving, and lost keys. Meanwhile, Jesse Myers of Onramp Bitcoin believes a supply shock could be more influenced by the reduction in the block subsidy, rather than the election and economic factors alone.

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Georgii Verbitskii, the guy who started the TYMIO platform for decentralized finance, thinks Bitcoin could cost up to $180,000 by close of 2025. He shared with Cointelegraph that Bitcoin might cost between $100,000 and $120,000 by late 2024 or early 2025, just around when the new US president-elect, Trump, comes to power. He expects more folks will join the Bitcoin trading game, which could drive the price to hit $180,000 by the end of 2025.

In Verbitskii’s conversation with Cointelegraph, he mentioned, “Bitcoin’s price can double in the midst of this bull market and could potentially hit that $180,000 mark. Realistically, we might see that happening more towards the end of 2025. The high point of this cycle could even go beyond that as we move into the next couple of years.”

That said, Verbitskii warned traders to play it safe. How? By not putting all their eggs in one basket, setting limit orders for trades, and using options to avoid losing big from sudden market falls.

Verbitskii also gave his take on a possible Bitcoin supply shock. The creator of TYMIO believes lesser Bitcoin availability due to the reduction in block subsidy from the 2024 halving, possibility of future halving events, and lost keys could lead to a supply shock and keep Bitcoin volatility on the high side.

He said, “Bitcoin is becoming hard to come by because fewer coins are being mined each year and a lot are lost thanks to forgotten passwords and misplaced wallets. This scenario can lead to a supply crisis where demand far outpaces what’s actually available. If and when that happens, the price could skyrocket and volatility would hit an all-time high.”

In June 2024, the overall count of Bitcoin stored on exchanges dipped to the lowest point in three years, and the trend continued into the following August. The demand for Bitcoin has only increased due to the US Presidential election and other economic factors. This has put quite a strain on the already dwindling Bitcoin supply.

Jesse Myers, co-founder of Onramp Bitcoin, thinks there’s more to Bitcoin hitting the $100K mark than just the election and economic factors. He emphasizes the reduced block subsidy as an agent that could cause a Bitcoin supply shock.