Where Will Bitcoin Be in 3 Years?

Core Viewpoint - Bitcoin remains the leading cryptocurrency globally, experiencing a significant value increase of 430% since 2023, despite a recent decline of about 4% over the past year as investors shift towards safer investments [1][2]. Group 1: Bull Case for Bitcoin - Bitcoin is gaining institutional support from investment firms and banks, which could drive its value higher in the coming years [4]. - The launch of Bitcoin exchange-traded funds (ETFs) in 2024 has made it easier for everyday investors to buy and sell Bitcoin, contributing to its rising popularity [5]. - Financial firms, such as Morgan Stanley, are expanding their cryptocurrency offerings, including filing for their own Bitcoin ETFs, which adds credibility to Bitcoin as part of a diversified investment strategy [6]. - The U.S. government's more open regulatory stance towards cryptocurrencies, including the establishment of a Strategic Bitcoin Reserve, supports Bitcoin's integration into the traditional financial system [7][8]. Group 2: Market Predictions and Challenges - Some predictions estimate Bitcoin's value could reach $250,000 by 2028, indicating strong long-term potential [9]. - However, a slowing job market may negatively impact Bitcoin's value in the short term [9].