Bitcoin is expected to reach $1.8 million by 2035 despite a decline in investors’ profits driven by recent price drops and global trade tensions. Joe Burnett, Unchained’s market research director, said Bitcoin remains in a long-term bullish cycle. He pointed out two models, a parallel model and a Michael Saylor Bitcoin 24 model, which will project Bitcoin prices of $1.8 million and $2.1 million respectively, within the next decade. Both Barnett explains as solid basic cases, noting that the actual price of Bitcoin could exceed those figures depending on the broader economic factors.
Arthur Hayes, co-founder of Maelstrom’s Bitmex and CIO, also made bullish predictions, suggesting that Bitcoin could reach $250,000 by the end of 2025 if the US Federal Reserve launches another quantitative easing cycle. However, short-term investors’ behavior is a different story. Enmanuel Cardozo, a market analyst at Brickken, said investors are cautious and recalibrating their portfolios, avoiding major Bitcoin positions in the coming months. He said Bitcoin ETFs saw money flow as investors moved towards more secure assets like strong currency and gold.
Since its launch in 2025, Gold has been better than Bitcoin. TradingView data shows that gold prices rose above 23%, while Bitcoin fell by more than 10% over the same period. Tokenized gold has also gained traction. According to Cointelegraph, trading volumes exceeded $1 billion this week, reaching its highest level in two years.
Market sentiment is influenced by political development. Since US President Donald Trump took office in January, financial markets have been under pressure. His push for new import tariffs aimed at reducing the trade deficit creates uncertainty and limits risk appetite across both stocks and cryptocurrencies. Burnett noted that this type of market environment slows down investment in assets like Bitcoin, but does not change the long-term outlook.
Despite the short-term decline, Burnett is confident in the future of Bitcoin. He argued that Bitcoin could ultimately match or exceed the market capitalization of $21 trillion gold, especially given its technical advantages. “The gold market is an estimated $21 trillion. If Bitcoin reaches $21 trillion and you have Bitcoin Gold Parity, Bitcoin will be $1 million per coin today,” he said.
He also noted that Bitcoin volatility is declining in both the bull market and the bear market. He said major drawdowns are still possible, but serve as opportunities for long-term holders. “The highs are attracting attention, and deep dark bear markets move coins as fast as possible, in the hands of the most powerful and convicted holders,” he said.