Although predictions about Bitcoin vary based on both technical and macroeconomic factors, some basic trends and possible scenarios can be summarized as follows:
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### **1. Short-Term Forecasts (2023-2024)**
- **Price Fluctuations:** Bitcoin has historically been volatile before and after halving (halving of block reward). The expected halving in 2024 could push prices higher due to reduced supply. However, global economic uncertainties (inflation, interest policies) may lead to short-term declines.
- **Corporate Investment Increase:** If Bitcoin ETF applications from companies such as BlackRock and Fidelity are approved, institutional capital inflow may accelerate.
- **Regulations:** Regulations in the USA, EU and Asian countries will directly affect the liquidity and acceptability of Bitcoin. Clear rules can increase market stability.
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### **2. Medium-Long Term Forecasts (2025 and Beyond)**
- **"Digital Gold" Role:** Bitcoin can compete with gold as a store of value, especially in inflationary environments. Demand for safe havens may increase in global economic crises.
- **Technological Advances:** Updates such as Layer-2 solutions (Lightning Network) and Taproot can improve Bitcoin's scalability and privacy features.
- **Environmental Impact:** If the use of renewable energy in mining becomes widespread, criticisms of Bitcoin's "energy consumption" may decrease.
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### **3. Risks and Uncertainties**
- **Regulatory Pressure:** The possibility of some countries banning or limiting Bitcoin (such as the Chinese example) may negatively affect the market.
- **Competing Crypto Assets:** Smart contract platforms such as Ethereum and Solana may suppress Bitcoin's market share.
- **Technical Security:** Events such as a 51% attack on the network or major exchange hacks can undermine confidence. Bitcoin in the Context of**
- **Inflation Target:** The depreciation of the TL and inflation may continue to trigger Turkish investors to turn to Bitcoin.
- **Local Exchanges:** Regulatory compliance and user trust of platforms such as BTCTurk and Paribu.
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