Earlier this year, I predicted that Bitcoin (CRYPTO: BTC) would reach $150,000 before 2026 ends.
The coin is trading near $80,000 right now, which means that my call would require a near-doubling from here to come true
That sounds ambitious because it is. Still, every driver and structural force behind the original thesis has either held steady or intensified since the start of the year. Let’s walk through what’s happening with Bitcoin right now.
The supply situation is still grinding on The most important factor that’s pushing Bitcoin’s price up is its ever-increasing scarcity. After the April 2024 halving, only 450 bitcoins are mined each day. Meanwhile, Bitcoin exchange-traded funds (ETFs) have been absorbing as many as 15,000 to 20,000 coins per week during the recent inflow streaks in early May.