Bitcoin's potential trajectory toward unprecedented highs has industry experts weighing in on its future.

Roundtable anchor, Rob Nelson, Brian Dixon, CEO of Off The Chain Capital, and Kelly Kellam, Director of BitLab Academy, recently shared their insights on the cryptocurrency's volatile journey and what might lie ahead.

Brian Dixon emphasized the normalcy of significant price fluctuations within bull cycles. "Multiple times throughout historical bitcoin cycles, bitcoin will do a 20 to 30% drawdown during the bull cycle and then bounce right back," he noted. In 2017, bitcoin experienced 11 such drawdowns yet continued to reach new all-time highs.

Dixon projected that bitcoin could reach between $125,000 to $150,000 by December 31st of this year, especially if nation-state adoption accelerates. "If more countries believe the U.S. is going to start buying bitcoin for their balance sheet... that's going to command a huge price multiple on where it's at today," he explained.

President Trump had floated the idea of creating a U.S. bitcoin reserve at the Bitcoin conference in Nashville this summer. Senator Cynthia Lummis has proposed a bill that would have the U.S. buy 1 million bitcoin.

Rob Nelson questioned the aggressiveness of these predictions, highlighting the current political landscape. "We're not going to have our bitcoin strategic reserve fund in place... Biden will still be president at the end of the year," he remarked. Dixon responded by stressing the impact of other nations front-running U.S. adoption. "When that happens, in my opinion, it's going to go up to a minimum of several hundred thousand dollars," Dixon asserted, suggesting that bitcoin's price could stabilize at higher levels, reducing the likelihood of historic 70% drawdowns.

Kelly Kellam added that institutional and governmental involvement could fundamentally change bitcoin's market dynamics. "We have more than a fighting chance going into the next three years plus that this cycle will be different," Kellam said. He pointed out that major tech companies and entities like MicroStrategy are poised to make significant bitcoin acquisitions. "We haven't even discussed some of the largest tech companies in the history of the world that don't have bitcoin on their balance sheet yet," he noted.

Both Dixon and Kellam agreed that while volatility is inherent, the long-term outlook is bullish. Kellam advised new investors to be prepared for market swings but remained optimistic. "We could see a sort of slow burn like that over an extended period of time over the next three to five years," he concluded, envisioning sustained growth driven by widespread adoption and strategic investments.