Bitcoin was back in the news this week after surging past $104,000 before retracting a bit. The rally, which started around May 7, propelled the world’s largest cryptocurrency from $93,000 to as much as $104,000 by May 9. Related Reading: Binance Buzz: Pi Coin Wallet Activity Triggers Listing Rumors After retreating 4% in the following 24 hours, Bitcoin still maintained a weekly gain of around 6%. That short-term action is now driving larger predictions, including one that forecasts Bitcoin will increase another 10 times in value. Another 10x Jump ‘Inevitable,’ Expert Says Muneeb Ali, the brains behind the Bitcoin Layer 2 solution Starks, thinks the next giant leap is imminent. In his opinion, Bitcoin has already taken three distinct steps in its price trajectory: from $100 to $1,000, then to $10,000, and then to over $100,000. i’ve seen bitcoin go: – from $100 to $1,000. – from $1,000 to $10,000. – from $10,000 to $100,000. one more 10x to $1,000,000 is inevitable. — muneeb.btc (@muneeb) May 8, 2025 Ali pointed out how each move took more time but followed a familiar pattern. In 2013, Bitcoin climbed from $100 to $1,000 in four months. Four years later, in 2017, it reached $10,000. By December 2024, it had crossed the $100,000 mark. Based on that path, Ali said another 10x jump to $1 million isn’t just likely — it’s “inevitable”. However, he didn’t explain what would actually drive that kind of rise. New Projection Sees $116K Next Month The latest Bitcoin price forecast by CoinCodex has the price increasing by 13% and hitting $116,600 on June 8, 2025. Technical analysis indicates a positive trend, with 20 of the past 30 days (67%) closing in the positive. During the same timeframe, Bitcoin recorded 6.50% price volatility. Source: Alternative.me The Fear & Greed Index is currently at 73, which is Greed. Though this prediction is not quite hinting at reaching $1 million yet, it validates the notion that there is still space for Bitcoin to rise in the near future. Related Reading: Tether’s $1 Billion Mint Powers Tron — Is A Breakout Brewing? A US Government Buy-In Could Speed Things Up Zack Shapiro, a Bitcoin Policy Institute lawyer, also thinks that Bitcoin has a lot of potential — and quick. He studied a bill called the Bitcoin Act, which was reintroduced last March. The bill proposes the US government to purchase 1 million BTC within five years. That represents 5% of the total supply. If passed, the bill would fund the acquisition using profits from gold revaluation. Shapiro indicated that a plan like that would fuel demand so high it drives Bitcoin to $1 million earlier than anticipated. That’s provided that the bill gains momentum and secures the financing it requires. Featured image from Gemini Imagen, chart from TradingView
