Cryptocurrency giant Bitcoin soars past $123,000 as U.S. kickstarts Crypto Week
In a remarkable turn of events, Bitcoin's market capitalization has reached an unprecedented record of $2.42 trillion, with the digital currency setting and surpassing its all-time high of $123,091. This technical milestone not only signifies a new record but also reflects the maturity of the crypto ecosystem.
The US Congress is poised to pass three key laws—the CLARITY Act, the GENIUS Act, and the Anti-CBDC Surveillance State Act—which could establish a clear regulatory framework for digital assets and prohibit the issuance of a central bank digital currency (CBDC). This favourable stance towards cryptocurrencies by the Trump administration has also encouraged companies like Ripple to seek banking licenses, aiming to compete directly with Wall Street's major players.
The "Crypto Week" in the US, a legislative marathon aimed at passing these key laws, began on July 14. If these laws are passed during Crypto Week, analysts predict Bitcoin's price could surpass $125,000 or even $130,000. However, current data do not support a Bitcoin price prediction as high as $123,091 in the short term. Most forecasts for August 2025 indicate Bitcoin will trade in a narrower range around $108,000 to $115,000, with limited upside momentum and modest volatility expected.
Despite the near-term stability, longer-term growth remains positive. Industry experts surveyed in mid-2025 expect Bitcoin to rise to approximately $145,167 by the end of 2025, with potential peaks above $162K and eventual growth to near $460K by 2030.
The surge in Bitcoin's price is not limited to the digital currency itself. Ethereum, Solana, and other altcoins are also registering increases in activity and capitalization, suggesting that Bitcoin's rally could drag the rest of the market to new heights.
However, it's important to note that investing in crypto assets is not fully regulated and may not be suitable for retail investors due to its high volatility. There is a risk of losing the entire amount invested.
In summary, Bitcoin’s price is predicted to remain stable or slightly decline in the near term, well below $123,091, with longer-term growth expected but uncertain. The direct impact of Crypto Week on Bitcoin has not been explicitly forecasted, though such events generally promote market activity that could support future growth indirectly through improved sentiment and investor engagement. The US Congress's decision to pass these key laws could mark a before and after for the crypto industry in the United States and consolidate its global leadership.
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Other sports like basketball and football may take a backseat as the cryptocurrency market continues to attract investors, with some predicting Bitcoin's price to potentially reach $145,167 by the end of 2025, surpassing other popular sports' prize pools in the process. However, it's crucial for investors to be aware of the high volatility in the crypto market and ensure they are fully aware of the risks associated with investing in these assets.
