According to Harvey, representing Galaxy Digital, the first cryptocurrency still has a chance to reach record values by the end of 2025. However, the current growth rates are not enough for this - active replenishment of Bitcoin reserves by large companies and increased interest from private investors are required.
“Corporations continue to steadily increase volumes, and in this regard, everything is going well so far. But retail investors are not so active - this is evidenced by the low level of search queries for "bitcoin" in Google. There is no mass passion among private players yet,” Harvey noted.
Despite this, Bitcoin continues to trade below the $120,000 mark, which gives market participants hope for further upward movement. Harvey believes that with a sufficient influx of new funds, the cryptocurrency can again surprise with its dynamics. Otherwise, capital may start flowing into altcoins — according to the classic scenario, when investors are willing to take risks for the sake of potentially higher returns.
K33 Research specialists previously emphasized that the usual four-year cycle, which has determined Bitcoin's behavior for many years, no longer plays a key role. Today, the rate is increasingly influenced by global economic and political events. This factor forces market participants to take into account many more external variables when forecasting the movement of the first cryptocurrency.
As long as institutional players are interested and continue to hold Bitcoin in corporate reserves, the foundation for growth remains. However, the fate of the market increasingly depends on whether private traders return and whether they start buying up coins more actively.
Harvey emphasizes that the most important thing to watch is the overall level of capital inflow and the interest of a wide audience. If retail investors begin to return en masse, Bitcoin will be able to go beyond the current corridor and try to update the historical maximum. But if the enthusiasm fades, altcoins will once again become a temporary refuge for those looking for high risk and quick profits.
So the key to a new record is a balance between institutional investment and retail activity. So far, companies are holding their positions confidently, but the market is waiting for a signal from private investors who can provide the next wave of growth.