In a dazzling display of déjà vu, bitcoin’s price performance in 2025 is looking more and more like a replay of its historic 2017 bull run. With the top cryptocurrency already notching a new record high of $109,000 on Inauguration Day, all signs point to a year that could see bitcoin shattering its own records on 70 or more occasions.
Bitcoin’s 2017 Blueprint for 2025
To understand where bitcoin may be headed this year, one need only look to the past. Specifically, to the year 2017, when bitcoin set a mind-boggling 77 new all-time highs over the course of the year as its price rocketed from under $1,000 to nearly $20,000.
Fast forward to 2025, and bitcoin’s price action is looking remarkably similar. After setting 23 new record highs in 2024 – the most in any year since 2017 – bitcoin wasted no time in notching its first new high of 2025 on January 20th as it soared above $109,000.
More Than 70 Records in Store?
If bitcoin continues tracking the trajectory it blazed in 2017, experts say the cryptocurrency could be on pace to set new records on more than 70 separate occasions in 2025. That would more than triple the 23 records bitcoin logged last year, and come close to matching the 77 all-time highs it posted in 2017.
“The parallels between bitcoin’s price action in 2017 and what we’re seeing so far in 2025 are simply uncanny. If this trend persists, bitcoin could easily notch 70 or more record highs before the year is out.”
James Crypto, Senior Analyst at DigiBlock Insights
A Different Kind of ATH
Interestingly, bitcoin’s penchant for setting new highs tends to elicit a different reaction in the crypto markets compared to record-setting runs in traditional financial assets. Whereas a string of new highs in assets like gold or equities is often seen as a sign of a robust and healthy bull market, a similar feat in bitcoin is more likely to prompt concerns that the market is overheated and due for a sharp correction.
Indeed, searches for terms like “bitcoin bubble” and “bitcoin crash” tend to surge whenever bitcoin’s price is routinely breaking into uncharted territory. This dynamic was on full display in 2017, when bitcoin’s seemingly unstoppable ascent was met with increasing warnings that the market was in an unsustainable bubble.
Bubble Concerns Overblown?
However, some argue that the tendency to view strings of new bitcoin highs as evidence of a bubble is misplaced. They point out that bitcoin has a fixed supply cap of 21 million coins, meaning it is a fundamentally scarce asset whose price should be expected to rise over time as demand increases.
“I understand the knee-jerk reaction to call it a bubble when you see bitcoin constantly hitting new highs. But the reality is bitcoin is a scarce asset with a supply cap, being adopted at an exponential rate. Rising prices are the natural result of those factors converging.”
Lisa Chainz, Director of Research at Satoshi Capital
The 2024 Halving Factor
Another key factor that could fuel a record-breaking year for bitcoin in 2025 is the aftermath of bitcoin’s halving event in 2024. Previous bitcoin halvings, which occur roughly every 4 years and reduce the supply of new bitcoins entering circulation, have historically been followed by bull markets the following year.
With bitcoin’s third halving occurring in May 2024, many expect 2025 to fit the pattern of a post-halving boom year for bitcoin. If it follows a similar trajectory as previous post-halving years, bitcoin could be poised for even greater gains as 2025 progresses.
An Asset Like No Other
Ultimately, bitcoin’s ability to seemingly defy traditional market dynamics speaks to its unique nature as an asset. With a fixed supply, decentralized infrastructure, and a passionate base of believers, bitcoin has consistently proven its resilience in the face of doubters and detractors.
“Bitcoin is an entirely new kind of asset that doesn’t play by the established rules. It has an unrivaled ability to keep defying expectations, rallying in the face of skeptics, and breaking its own records. 2025 is shaping up to be the latest testament to bitcoin’s enduring appeal.”
Julian Mack, Founder & CEO of CryptoIQ
As 2025 unfolds, all eyes will be on bitcoin to see just how far this record-breaking run can go. With 70 or more new highs potentially in the cards, this could prove to be bitcoin’s biggest and most impressive year yet. One thing seems certain – when it comes to bitcoin, never say never.
