Bitcoin Extremes: Will 1 bitcoin be worth $100,000 or more before 2025?

Bitcoin is a cryptocurrency. It is a decentralized digital currency without a central bank or single administrator that can be sent from user to user on the peer-to-peer bitcoin network without the need for intermediaries.

The price of bitcoins has gone through cycles of appreciation and depreciation referred to by some as bubbles and busts. In 2011, the value of one bitcoin rapidly rose from about $0.30 to $32 before returning to $2. In the latter half of 2012 and during the 2012–13 Cypriot financial crisis, the bitcoin price began to rise again, reaching a high of $266 on 10 April 2013, before crashing to around $50. On 29 November 2013, the cost of one bitcoin rose to a peak of $1,242. In 2014, the price fell sharply, and as of April remained depressed at little more than half 2013 prices. As of August 2014 it was under $600.

Bitcoin prices reached their apogee in December 2017, at just shy of $20,000 per coin. Since then, prices have fallen roughly in half, and as of March 10, 2020 one bitcoin is valued at approximately $7,900.

Will 1 bitcoin be worth $100,000 or more before 2025?