Bitcoin recently hit its all-time high, exceeding the $87,000 threshold and shaving back a little to $87,203. Despite the minor pullback, Bitcoin remains up 3.38% over the past 24 hours, trading between a daily high of $87,109 and a low of $84,181. This is a 4.26% rise from its daily low of $0.415834. Regardless, industry stakeholders are making all kinds of predictions, with most keeping their optimism and bullish on the Bitcoin long-term health.

It’s been hard to miss the news that Bitcoin’s price recently surged. Further loosening occurred as the U.S. dollar index (DXY) fell to 98.5, a new low since March 2022. It appears to be the weakening dollar that makes Bitcoin’s upward momentum possible. This negative correlation between Bitcoin and the dollar just goes to show how intertwined the two are. On Monday, some analysts were bursting with optimism. The idea is that once Bitcoin breaks through the $100,000 psychological barrier, it will never drop below that line in the sand ever again.

Expert Predictions and Price Targets

Mike Alfred is betting Bitcoin will cross some big milestones in the coming months. Despite Bitcoin’s starting price being $88k, Alfred’s daring prediction is $315,000, which would constitute an increase of a whopping 257.95%! Whatever the reason, this target reflects a striking level of faith in Bitcoin’s prospects for sustained long-term growth.

Given enough time, Blockstream CEO Adam Back is exceptionally bullish on the idea that Bitcoin is still in its early days. He argues that it’s being under-priced now. Back’s point of view is reassuring for those with a long-term outlook, underscoring the value Bitcoin could one day appreciate to.

Long-Term Outlook and Market Sentiment

The price bounced from the strong support at the $84,000 psychological level to above $87,000. Market sentiment has shifted heavily toward the positive. Investors are viewing the recent price action as more of a healthy correction than an outright crash or collapse.

Further boosting the long-term bullish outlook, Bitcoin evangelist and millionaire author of Rich Dad Poor Dad, Robert Kiyosaki, has made a $1 million price call on Bitcoin by 2035. This target might sound ambitious, but it exemplifies the overall faith in Bitcoin’s future. People predict 66 times appreciation over the next 10 years.

Key Takeaways

There are a number of factors at play in making this such a promising time for Bitcoin, like the weakening dollar and increasing institutional interest. Consider the predictions from industry leaders and visionaries, such as Mike Alfred, Adam Back and Robert Kiyosaki. Their perspectives only serve to strengthen the emerging bullish sentiment all around Bitcoin.