Bitcoin's ongoing volatility has long been a point of concern for investors, but swings to the downside can be just as intense to the upside. If prior cycles are any indication, a blow-off-the-top rally could have $250,000 in play over the coming years.

First of all, bitcoin's price movement this cycle has already moved more quickly in a positive direction this year than in previous cycles. This is thanks, in part, to the U.S. Securities and Exchange Commission's (SEC) approval of bitcoin exchange-traded funds (ETFs) this January, which have driven record inflows to the world's largest cryptocurrency by market cap. Institutional adoption of bitcoin ETFs has mushroomed , with major Wall Street players like Goldman Sachs entering the bitcoin investment scene.

Goldman Sachs, for example, now maintains a $418 million exposure to bitcoin ETFs, and other institutions on Wall Street are expected to closely follow in its footsteps as growth accelerates.

It's not far-fetched for bitcoin to break $250,000 in the coming years, given the macroeconomic factors driving positive price momentum of the world's largest cryptocurrency and renewed confidence around bitcoin. Surging political interest in bitcoin – from former president Donald Trump and other political heavyweights – will also keep focused attention on bitcoin and alternative cryptocurrencies, potentially influencing its price over the election cycle.

Bitcoin's low this cycle has been $15,000 , but in 2021, bitcoin broke past $65,000 , stunning investors worldwide. On the whole, bitcoin will likely scale a similar upward price trajectory this year, making potential price apexes of $250,000 reasonable. In previous cycles, it took approximately 200 to 250 days to break through, but 2024 has already been a transformative year, and could continue on a positive price path.