Bitcoin Reaches New Record High

Bitcoin surged more than 6% early Friday, setting a new all-time high.

This leading cryptocurrency surpassed $118,000 (£87,000) for the first time, after briefly dropping below $80,000 in April.

The wider cryptocurrency market also saw gains, with Ethereum (ETH), Solana (SOL), and Dogecoin (DOGE) all increasing by over 7%.

Bitcoin’s market capitalization now exceeds $2.3 trillion, placing it alongside major tech companies like Alphabet (Google) and Meta. For context, gold’s market cap is estimated at around $22 trillion, while silver trails behind.

The rally that broke records began on April 2nd, coinciding with Donald Trump’s announcement of a “liberation day.” This announcement caused disruptions in traditional markets, nudging both individual investors and institutions towards Bitcoin as a hedge against economic instability.

“Bitcoin has surpassed expectations, moving from a modest range to a full-blown surge,” noted Gadi Chait, Director of Investment at Xapo Bank.

Chait added that institutional investment is on the rise, particularly during a time of significant geopolitical uncertainty. This accumulation is being firmly maintained, as investors seek stability.

The recent price surge has led to optimistic projections among certain crypto analysts. A survey conducted by Financial Comparison Site Finder, involving 22 experts, indicated an average forecast of $145,167 by the end of 2025.

To achieve this target, Bitcoin would need to climb an additional $27,000 in the latter half of the year — having already risen about $25,000 in the first half.

“We still have at least six months left in this bull run,” remarked Kadan Stadelmann, chief technology officer at Komodo Platform, which participated in the survey.

He expressed optimism that, if trends hold, Bitcoin could peak in the first quarter of 2026, followed by a subsequent bear market.