Bitcoin Surges as Experts Predict $200,000 by Year-End

Bitcoin’s price has recently crossed $99,000, with experts predicting it could reach $200,000 by year-end. Confidence has surged after predictions on Polymarket showed a 93% chance it will hit $100,000 in May. This optimism is a turnaround from a recent dip to $74,500 amid global uncertainty. Bitcoin is currently trading at $99,726, with Ethereum also gaining.

Bitcoin is making a notable comeback, recently climbing back over the $99,000 mark. Analysts and traders are optimistic, believing that the cryptocurrency is on the verge of reclaiming the $100,000 threshold, possibly even within the next month. According to a stake on Polymarket, the probability of Bitcoin hitting this milestone in May has jumped dramatically to 93%, an impressive increase from just 65% earlier this week. This excitement is only the beginning, according to several experts in the field.

Matt Hougan, chief investment officer at Bitwise, expressed his bullish outlook in a recent blog post, stating that most cryptocurrencies, including Bitcoin, could reach new all-time highs. Specific predictions suggest Bitcoin could soar to $200,000 by the year’s end, a sentiment echoed by notable figures like Arthur Hayes of Maelstrom and Geoff Kendrick from Standard Chartered.

This surge in confidence stands in stark contrast to the sentiment from just a few weeks ago when Bitcoin plummeted to around $74,500. The decline followed U.S. President Donald Trump’s announcement of new tariffs affecting 90 countries, which caused a ripple of uncertainty and market declines across stocks and cryptocurrencies alike. In the wake of these tariffs, Bitcoin is now seeing recovery, gaining 4.3% over the past week, with current trading hovering just above $99,000.

At the recent Token2049 conference in Dubai, Hayes noted that global uncertainty creates a favourable environment for market rallies. “There’s a lot of fear, uncertainty, and doubt in the markets,” he stated, stressing that U.S. monetary authorities are likely to respond by increasing money supply. This strategy aims to stimulate borrowing and spending to fend off economic downturns and potential recessions.

Polymarket bettors seem to be aligning with these views, as their bullish positions have pushed the likelihood that Bitcoin’s price will surpass where it stood on April 1 to 84%, up from 77% earlier this week.

On the crypto market front, Bitcoin has recorded a 2.9% gain in the past 24 hours, now trading at $99,726. Ethereum has also seen a positive uptick, climbing 5.5% to reach a price of $1,941. As cryptocurrencies continue to rally, the interest from traditional financial giants is also sparking some discussions in the industry.

In other developments, financial institutions like Schwab and Morgan Stanley are venturing into the crypto space, albeit a little late, causing some analysts to question their timing. Potential discussions regarding North Korea’s crypto hacking activities are on the agenda for the upcoming G-7 summit, while ongoing congressional hearings on cryptocurrency are turning into contentious partisan debates. The crypto landscape is evolving rapidly, and investors are watching closely for each twist and turn.

For those interested in how Ethereum might evolve, the recent Pectra upgrade that just went live could signify significant changes ahead. Eric Johnsson, who serves as the news editor at DL News, is staying vigilant amidst this shifting climate and encourages tips at [email protected].