Bitcoin has surged past $63,000, with some analysts predicting it could reach close to $110,000 by year-end, driven by factors such as the recent halving event that often precedes significant rallies. Despite some bearish forecasts, many prominent figures remain optimistic about Bitcoin's long-term value, with some even predicting it could reach $1 million.

After trading in the red, Bitcoin began an upward trend on May 10, surpassing the $63,000 mark. Analysts like Titan of Crypto, Captain Faibik, and Mikybull Crypto believe this uptrend will continue, leading to unprecedented highs. Titan of Crypto, using Fibonacci circles on Bitcoin's price chart, predicts a cycle top of nearly $110,000 by year-end.

Bitcoin's recent halving event, which cut the rewards for miners validating blocks on the blockchain in half, is expected to trigger a massive rally. Historically, such events have led to significant surges in the entire cryptocurrency market, with many industry participants expecting a similar scenario in the coming months.

However, some analysts, like Michael van de Poppe, forecast potential drops, suggesting Bitcoin could fall to the $52,000-$55,000 range if it drops below the major support zone of $61,000.

Prominent figures like Robert Kiyosaki, Adam Back, Michael Saylor, and Cathie Wood have presented more optimistic Bitcoin price forecasts, with some even envisioning Bitcoin trading at $1 million in the future.