Bitcoin reached the $97,000 mark for the first time in history, up 115% YTD. In November 2024, BTC's capitalisation surpassed the $1.8 trillion mark. The coin overtook silver by market value, and at certain moments - and the oil giant Saudi Aramco. Thus, bitcoin has become the seventh largest capitalised asset in the world.

How the BTC exchange rate changed in 2024:

• 1 January - 44,175;
• 22 January - 39,600;
• 16 February - 52,134;
• 2 March - 61,962;
• 14 March - 71,352;
• 1 May - 58,195;
• 20 May - 71,428;
• 7 July - 56,039;
• 24 August - 64,230;
• 30 October - 72,451;
• 10 November - 80,365;
• 18 November - 90,535;
• 20 November - 94,243;
• 21 November - 97,139.

Cryptocurrencies are subject to high volatility, so the rate of coins depends on the political and economic situation in the world. In the case of active growth of BTC value there are certain reasons and first of all it is connected with the completed presidential election in the USA.

Bitcoin rate growth forecast by the end of 2024

By the end of the year, investors expect the BTC rate to grow to $100-120 thousand dollars. According to the crypto exchange Derbit about $3 billion is in contracts with an expiry date of 27 December on bitcoin options in the range from $100 thousand to $120 thousand.

The CEO of Collective Shift agrees with this BTC price forecast: ‘With the Trump election, interest rates coming down, the potential for quantitative easing starting up in the future, and getting relatively consistent days of a billion dollars Bitcoin ETF volume, more people are catching on,’ said Ben Simpson.

Bitcoin's growth forecast is already coming true, as at the time of the review's release, the coin's value was close to the 98,000 mark at times.

Bitcoin rate forecast for 2025- 2027

In 2025, experts do not see any problems that can lead to the cancellation of the growth trend. Analysts are confident of doubling the value of BTC. For 2025, the rate can increase to 200 thousand dollars. This opinion was expressed by analysts of the Bernstein company. To the publication The Block they outlined the main reasons for growth: the importance of the positions of the head of the SEC and the Secretary of the Treasury in the new administration of Donald Trump after 20 January. According to Polymarket, the most likely candidate for the post of head of the Treasury is Cantor Fitzgerald CEO Howard Lutnick. His main rival was considered to be hedge fund manager Scott Bessent. The latter strengthened his position after receiving endorsements from Ilon Musk and Health Secretary nominee Robert Francis Kennedy, Jr. They were also approached by former Federal Reserve Board of Governors member Kevin Warsh.

By 2027, the Bitcoin exchange rate could rise to $500,000. Such an optimistic forecast was given by the head of Galaxy Digital Mike Novogratz on the air of Bloomberg Television. He believes that BTC can reach this value if the U.S. does not abandon the plan to create a strategic reserve in Bitcoin. The future of Bitcoin remains uncertain, but there is every prospect of its value rising. The determining factor in the outlook for the token will be the fulfilment or non-fulfilment of Donald Trump's promises issued during the election campaign.

Why bitcoin rate is growing

On the 6th of November in the USA the results of the presidential election were announced. On the same day, the coin's rate broke through the $70,000 mark. Already in the next week, the cryptocurrency updated several historical highs. At times, the rate was at the mark of $93,000.

Active growth in the cost of cryptocurrency is associated with the position of Donald Trump regarding BTC and other cryptocurrencies. The new president in 2024 made several promises:

• create a strategic bitcoin reserve in the US;
• to fire Gary Gensler as head of the SEC;
• make the U.S. the ‘cryptocurrency centre of the world’;
• support mining and generally stimulate the crypto market.

The new US president doesn't just pay lip service to cryptocurrency. In May 2024, he launched a collection of donations in cryptocurrency for the election campaign. Donald Trump plans to use BTC as a reserve asset.

"Trump made a number of promises during the campaign. It remains to be seen how serious he was. As we start to get some data on a variety of fronts, traders will be placing bigger bets on the likelihood of promises being fulfilled,’ said Le Shi, managing director of marketing at Auros.
The exchange rate of bitcoin and other coins was affected by the desire to fire Gensler. The chairman of the US Securities and Exchange Commission acts as a known opponent of cryptocurrencies.

BTC is not the only coin whose rate has grown noticeably over the past month. XRP, DSTAG, SOL, EGO, HBAR, BTC, RAY, PEPE, PNUT, and DOGE were among the top 10. In the near future, analysts expect an increase in the exchange rate value of popular cryptocurrencies. For example, Skilling predicts the BTC rate to rise to $120,000 - $200,000 in 2025.

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Factors of bitcoin growth

The birth date of the token is considered to be 3 January 2009, when its creator Satoshi Nakamoto mined the first block in the cryptocurrency network. It took the coin almost 16 years to reach a rate of $90,000.

During this time, the coin's rate has risen and fallen. The following events influenced the growth of the rate:

• The launch of bitcoin futures on stock exchanges in 2017, the coin reached the mark of 20,000.
• In 2020, bitcoin hit a high of 40,000 amid cash injections amid the pandemic of Coovid-19.
• In February 2021, the exchange rate rose to 57,000 due to reports of Tesla Corporation investing $1.5 billion in BTC; in March, the company announced the ability to pay for services in bitcoin.
• In November 2021, the rate rose to $69,000 amid information about the launch of the Bitcoin Strategy ETF exchange-traded fund, which is based on bitcoin futures.
• In January 2024, the US approved the first spot bitcoin exchange-traded funds.

There were negative moments in the history of the cryptocurrency, when the value of the asset fell. In 2018, on the wave of mass hacking of crypto exchanges and theft of large sums, the value of BTC collapsed by 76%. In 2022, the token of crypto project Terraform Labs collapsed and the FTX exchange went bankrupt. This caused the BTC rate to drop to 15,000.

It is quite difficult to assess the future prospects from investing in cryptocurrency. Cryptocurrencies are cyclical just like traditional assets. When the economy slows down or the key rate rises, capital flows from risky assets like tech stocks and bitcoin to conservative assets like short government bonds. There is every prospect of the asset's attractiveness increasing in the near term. The new US government is interested in cryptocurrency and there is a move to lower the key rate, which encourages players to choose risky assets. This leads to an influx of liquidity in the crypto market.

Is it worth investing in BTC now? 

The question is interesting and does not have an unambiguous answer. Bitcoin, like all cryptocurrencies, is subject to high volatility, so the rate can go up or down. Over the last month, we see active growth, which shows that the coin is in demand. We at Dexsport know that BTC is the most popular deposit method. Owners of the token can multiply their capital both through the growth of the asset's value and through wins in our betting and mini-games. This is not an individual recommendation to buy, as there are still chances of the token's value decreasing, but on a long distance there is a tendency to its growth.