Peter Chung, head of research at Quantitative Trading Firm Presto, has reiterated his prediction that Bitcoin (BTC) will reach $ 210,000 by the end of 2025.
On 28 April Interview With CNBC, Chung cited institutional adoption and global liquidity expansion, which was the primary drivers behind their long -term rapid approach.
The analyst admitted that the market situation was not expected this year, especially challenging macroeconomic environment and market reaction.
However, he described recent reforms as a “healthy” adjustment, suggesting that he laid a strong foundation for the progress of bitcoin towards becoming a mainstream financial property.
He said, “I think it was really a healthy improvement that has paved the way for further re-removal of bitcoin as the mainstream property,” he said.
https://www.youtube.com/watch?v=hnicqtnmsh0
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Bitcoin’s dual role
Chung also discussed the dual nature of bitcoin, describing it as both “risk-transactions” and “digital gold”.
He said that bitcoin usually behaves the user and behaves like a high -risk property operated by network effects.
However, during the period of financial instability, such as an outbreak of 2022 of the Russia-Ukraine conflict or 2023 Silicon Valley Bank collapse, bitcoin serves as a safe-hevan property similar to gold.
“These moments are rare,” Chung explained, “(they) only occurred when there is doubt about the stability of the US dollar-discomfort in the market.”
While Bitcoin has lagged behind gold during the recent market disturbance, Chung suggested that the BTC could “hold” and potentially improve traditional safe-hobe assets by the end of the year.
Chung confirmed the target of Presto for Ether (ETH), reflecting confidence in Etheram’s ongoing network reforms, maintained its evaluation model based on the ETH-to-BTC ratio.
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Bitcoin hits $ 94,000 as institutional adoption
Ecoing Chung’s view, Bitwaiz CEO Hunter Horsley recently stated in a post on X that the $ 94,000 growth of bitcoin has taken place with minimum retail participation, given that Google Search for “Bitcoin”, lasts longer climbing.
According to Horsley, the current rally is being run by institutional investors, financial advisors, corporations and even nation-states.
“The type of investors buying bitcoins is expanding,” said Horsley.
Corporate bitcoin treasury already is about $ 65 billion BTC, according to data From bitcointreasuries.net.
On 22 April, analysts from Standard Chartered and Intalateia AI said that the price of bitcoins could be higher than doubled this year by traders wishing to hedge institutional bitcoins from exchange-traded funds and hedge against macroeconomic risk.
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