Bitcoin to hit $120,000 this year amid Clarity Act and reserve push

Bitcoin is projected to reach $120,000 this year due to momentum from the Digital Asset Market Clarity Act and a bipartisan push to establish a Strategic Bitcoin Reserve. Bitcoin has delivered 80% or higher returns in six of the past 10 years and has never had two consecutive losing years. The U.S. government could trigger a Bitcoin arms race by actively purchasing Bitcoin for the reserve. In 2022 Bitcoin fell 64% to $16,547 before rising to $100,000 by December 2024.