The price of Bitcoin soared 119% in 2024, and the bulls have been out in full force, making predictions about where the cryptocurrency is headed.

So for Bitcoin to continue to climb and eventually hit $200,000, more people need to buy. Roughly 106 million people hold Bitcoin worldwide, including about 22% of the adult population of the U.S. Billions of people haven't purchased any yet.

Bitcoin could be propelled to a valuation of $130,000 in 2025 according to one wealth advisor, buoyed by positive sentiments from CEOs like Brian Moynihan.

With Bitcoin ETFs outperforming gold, this asset stands out as an important piece in diversified portfolios. Read my analysis of BTC-USD.

“The door to retest $100k is open,” Alan summarized. The chart additionally shows how comparatively thin bid liquidity is compared to the sell wall above the spot price at $110,000, now the major hurdle for bulls to overcome.

The newly launched $trump and U.S. first lady Melania Trump's $melania memecoins have each plummeted as traders cash

A heady combination of hope and disappointment has sent Bitcoin on a wild ride this week as cryptocurrency owners pin their hopes on the new Trump administration's ability to boost the value of their holdings.

Donald Trump assumes office with plans to make the U.S. the bitcoin mining capital, causing concerns over centralization, institutional control, and bitcoin's future.

Hashprice, a metric coined by Luxor that gauges mining profitability, estimates the daily income of miners relative to their estimated contribution to the Bitcoin network's hash power. In other words, it is the expected value miners can expect from 1 TH/s of hashing power per day.

On the other hand, Coinbase is less affected by Bitcoin price fluctuations. As long as trading volumes remain high, whether through sell or buy transaction, it will continue make money from the trading fees. This article first appeared on GuruFocus.