Our Expert's Take: What's Next For Bitcoin
Updated 2025 price targets included ...
Early this year, I called longtime friend and noted cryptocurrency expert David Zeiler, and asked for his latest prediction for Bitcoin (BTC).
As usual, Dave exceeded my grandest expectations: He delivered — and then some.
He gave me a detailed Bitcoin blueprint — his predictions, his analysis and even the “Bitcoin 101” how-to factors — in what I’ve referred to as our “Bitcoin Guide.”
Back in early July — as part of our Mid-Year Review — I invited Dave back to talk with you yet again … and featured him as part of our “Desert Island Stocks” series.
Now, as we get to mid-August, and the volatile months of September and October head our way, I knew it was time to talk with Dave again — especially since we’ve seen so many of you join the Stock Picker’s Corner (SPC) community in the last few months.
The get-together makes sense, too: After all, Dave believes Bitcoin will really start to move higher in the next few months. And 2024 has been an interesting year for Bitcoin, thanks to developments like:
The launch of the first Bitcoin ETFs.
The “halving” back in mid-April.
A volatile seven months of the year (so far).
And an about-face by former U.S. President (and Republican presidential candidate) Donald Trump, who’s now a Bitcoin backer — and who promised (upon election) to replace SEC Chair Gary Gentler with people who “love” crypto.
The “halving,” in particular, is like the “starter’s gun” for a cross-country track meet: Once you pull the trigger, Bitcoin tends to jog along a predictable path … albeit one with twists and turns, obstacles and competition.
Our early-year Bitcoin Guide contained Dave’s price predictions for the crypto bellwether, so I also wanted to revisit those numbers and see if they still held.
So here in this short update, I’ll run through Dave’s bona fides (and introduce him to our newest readers), give you Dave’s latest price predictions and direct you folks to our repository of Bitcoin research.
So let’s get started.
Let me tell you a bit about Dave …
The “Crypto OG”
I’ve known Dave for more than 25 years. And my respect for him is well-founded.
I worked with him back in our reporting days — back when he forged a national reputation as an expert on Apple Inc. AAPL 0.00%↑ (he even scored an exclusive interview with Co-Founder Steven Wozniak).
And I hired him when I was the editorial director of a fast-growing financial publisher.
That’s how I know he was an early Bitcoin "miner" — all the way back in 2011, when most folks had never heard the term “cryptocurrency” and when Bitcoin was trading at about $15 a “coin.” Back then, an individual investor could actually take their shot as a “Bitcoin Wildcatter” … and act as a go-it-alone cryptocurrency prospector.
Dave did that — and didn’t stop there. He became a top Bitcoin analyst … someone who made “hit-the-bullseye” price predictions for that crypto in one “cycle” after another. (Our SPC Premium members can access this special Bitcoin report that he helped us create — as well as our Model Portfolio.)
He made predictions in 2016, 2018, 2019, 2020 and again this year … and every single one hit that bullseye. (His “call” this year accurately predicted that Bitcoin would rally strongly from its lows.)
I circled back with him last week … and in a long strategy session, Dave outlined his forecast for Bitcoin.
For some context, in our guide early this year, here were the price targets he set:
2025 Price Targets
His new projections:
Dave’s now calling for a “minimum” in a range of $125,000 to $130,000.
His “midpoint” range is now $165,000 to $170,000.
And his “max” price point is $225,000 to $230,000.
“Look, Bill, I’m still bullish … these are just adjustments … refinements … a bit of ‘fine-tuning’ if you will,” Dave told me. “It’s been volatile this year … because you’re seeing more variables now than ever before … especially with the Bitcoin ETFs. You’re going to see that price volatility for another month or two. But I think we’ll see its rally start very soon … it’ll start to get a run in September … and into October .. and it’ll keep going … keep climbing. The first question will be when it gets to $100,000. It’ll definitely get there this time. But will it be by the end of 2024 or the beginning of 2025?”
I asked Dave about some of the more aggressive targets we keep seeing for this Bitcoin price cycle.
“Obviously, I see and watch those, too,” Dave said. “People are talking $250,000, $500,000 or even $1 million during this cycle. I mean … the $250,000 neighborhood is possible — if FOMO kicks in. Those others … I don’t think we see that this time around. Now … it certainly is possible … over a much longer time frame. Over the next seven to 10 years … that’s absolutely possible. And maybe shorter. But not in a year.”
Having said that, Dave asked me to underscore this point.
“I’m super bullish on Bitcoin long-term,” he said. “In fact, we’re still in the preliminary stages of the bull run. These halvings cut supply. And demand will keep growing — in particular, thanks to these Bitcoin ETFs. Companies like BlackRock and Fidelity now have ‘skin in the game.’ That brings in a whole new dynamic that we’ve never seen. Before, these companies were skeptical … and stood clear. Now, though, you can hear these companies phoning their customers and saying: ‘Buy our ETFs. You need to have X% of your holdings in Bitcoin. It’s an important asset class.’ You didn't have that eight years ago. So that's an entirely new source of demand. And that’ll keep going up while supply has been cut … and will be cut again in four years when the next ‘halving’ approaches. It was designed that way.”
Other new uses could emerge, too.
“We’re seeing proposals where some forms of crypto could be used to head off a U.S. debt crisis,” Dave said. “I see many, many problems with that idea. In fact, on its face, it seems unworkable — kinda crazy, even. I mention it, though, because it does tell us that creative thinkers are looking for ways to harness the innovative aspects of Bitcoin and other cryptocurrencies. And those new ideas that emerge could be wholly new sources of demand — which will be good for prices. But the big thing here — which I want to emphasize — is that politicians have changed their view on Bitcoin and other cryptocurrencies and now see it all in a positive light. That’s good …. even if the ideas are a little out there. Back at the start, politicians hated crypto … and saw it as a venue for criminals, scam artists and the Silk Road crowd. Now the Washington crowd sees the very real benefits. The fact that you see politicians talking it up is a great thing.”
Dave also advised any folks who favor the “short game” to keep careful watch.
“I’m still bullish, obviously … very bullish,” he said. “I still believe this cycle will play out as the previous cycles have before. Bitcoin will rally to new all-time highs that are even higher than the ‘highs’ we’ve seen before. But investors also need to remember that there also are pullbacks. Once Bitcoin does reach its peak … probably in the middle of next year, the ‘retrenchment’ — the drop back will come. If you’re new to Bitcoin, you also need to be aware that these gains are followed by long, drawn-out declines … almost crashes. And once that decline begins, it can last for 12 to 13 months. You have to be prepared for that.”
Strategies to Win
We’re Wealth Builders — we play a longer game with most of our investments. Dave has maintained that approach himself — especially because of when he first invested.
But for folks who are playing the cycle, Dave offered this advice.
“What I would say, Bill, to folks who are playing that ‘short game,’ or who are investing in Bitcoin for the first time, is to have a plan … a strategy … and be ready to take profits,” Dave said. “In fact, if that’s the game you’re playing, I’d recommend you pick a price point — create a target — somewhere around the new projected peaks where you’re willing to take profits. Do that now, before the rally starts, and stick with it. Again, if you’ve got a short-term focus … keep what you make … and don’t stick around for the pullback.”
For the full story, check out our free Bitcoin Guide:
See you next time;
