Bitcoin News Today: Bitcoin's $1.3M 2035 Outlook Sparks Debate Between Optimism and Uncertainty

Bitcoin is gaining renewed attention in global markets as crypto analysts and asset managers highlight a convergence of factors driving its potential for significant long-term growth. Among the most prominent forecasts, Bitwise Asset Management, a leading crypto-focused investment firm, recently outlined a bold projection: Bitcoin could reach $1.3 million by 2035, a 28.3% compound annual growth rate that would outperform most traditional asset classes over the next decade [1]. This forecast comes amid a broader trend of institutional adoption, a shifting macroeconomic landscape, and increasing recognition of Bitcoin as a hard-asset hedge.

The report from Bitwise, led by Chief Investment Officer Matt Hougan, identifies three primary drivers behind Bitcoin’s anticipated ascent. First, the cryptocurrency is increasingly viewed as an institutional-grade asset, with major financial players entering the space through spot ETFs and other investment vehicles. Second, inflationary pressures are boosting demand for assets with inherent scarcity, a trait Bitcoin inherently possesses. Third, its fixed supply of 21 million units continues to reinforce its appeal as a hedge against fiat depreciation [1].

The current market environment also appears to be supporting this trajectory. Bitcoin recently reached a new all-time high above $100,000, fueled by regulatory clarity and growing participation from institutional investors. However, volatility remains a key concern, even as the market matures. Bitwise notes that while Bitcoin’s historic four-year price cycle may no longer be predictive, sharp drawdowns and regulatory shifts—particularly in major markets—could still pose substantial risks [1].

Further analysis of market sentiment is provided by a crypto strategist known as “Credible,” who is using the Elliott Wave theory to model Bitcoin’s price action. According to this framework, Bitcoin has completed a first upward wave from $105,000 to $125,000 and is currently in a corrective phase. Credible argues that as long as Bitcoin remains above $105,000, a third wave could soon begin, potentially propelling the price to at least $135,000 [3]. If this pattern continues, a fifth wave could ultimately drive the price to $150,000, according to his projection [3].

The upcoming Federal Reserve’s Jackson Hole symposium adds another layer of uncertainty and opportunity for Bitcoin. Traders are closely watching for signals about the central bank’s stance on inflation and interest rates. A dovish message could reinforce expectations for rate cuts later in the year, potentially providing a tailwind for risk assets like Bitcoin. Conversely, a more hawkish tone emphasizing inflation risks might weigh on the cryptocurrency’s price in the short term [2].

Beyond macroeconomic factors, the broader digital asset ecosystem is witnessing innovation that could further integrate cryptocurrencies into traditional financial systems. For example, efforts to tokenize assets—such as SkyBridge Capital’s recent announcement to tokenize two of its hedge funds—are expanding access to previously exclusive investment products. These developments highlight the evolving role of crypto in global finance, potentially enhancing Bitcoin’s utility and adoption [2].

Despite the optimism, risks remain. Regulatory changes in key jurisdictions, technological threats like quantum computing, and the inherent unpredictability of a relatively young asset class all pose potential headwinds. Bitwise itself acknowledges the difficulty of forecasting Bitcoin’s future, noting that while it aims to be conservative in its modeling, the lack of long-term historical data means uncertainty will always be a factor [1].

Source:

[1] Bitcoin Price to Hit $1.3M by 2035, Says Crypto Asset Manager Bitwise (https://www.coindesk.com/markets/2025/08/22/bitcoin-price-to-hit-usd1-3m-by-2035-says-crypto-asset-manager-bitwise)

[2] Bitcoin price rises ahead of Fed Jackson Hole speech (https://uk.finance.yahoo.com/news/bitcoin-price-crypto-federal-reserve-jackson-hole-085201361.html)

[3] Crypto Analyst Says Bitcoin Must Hold This Level To Spark Rallies Toward $150,000 (https://dailyhodl.com/2025/08/20/crypto-analyst-says-bitcoin-must-hold-this-level-to-spark-rallies-toward-150000-heres-his-outlook/)