Bitcoin could hit $210K in 2025, says Presto research head

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Peter Chung, caput of probe astatine quantitative trading steadfast Presto, has repeated his prediction that Bitcoin (BTC) volition scope $210,000 by the extremity of 2025.

In an April 28 interview with CNBC, Chung cited organization adoption and planetary liquidity enlargement arsenic the superior drivers down his semipermanent bullish outlook.

The expert acknowledged that marketplace conditions this twelvemonth haven’t been arsenic expected, specifically the challenging macroeconomic situation and marketplace reaction.

However, helium described the caller corrections arsenic a “healthy” adjustment, suggesting they person laid a stronger instauration for Bitcoin’s progression toward becoming a mainstream fiscal asset.

“In hindsight, I deliberation it was really a steadfast correction which has paved the mode for the further re-rating of Bitcoin arsenic a mainstream asset,” helium said.

Bitcoin’s dual relation

Chung besides discussed Bitcoin’s dual nature, describing it arsenic some a “risk-on asset” and “digital gold.”

He said that Bitcoin typically behaves similar a high-risk plus driven by idiosyncratic adoption and web effects.

However, during periods of fiscal instability, specified arsenic the 2022 outbreak of the Russia-Ukraine struggle oregon the 2023 Silicon Valley Bank collapse, Bitcoin tends to enactment arsenic a safe-haven asset, akin to gold.

“These moments are rare,” Chung explained, “[They] lone happened erstwhile the marketplace has doubts astir the stableness of the US dollar-dominated fiscal system.”

While Bitcoin has lagged down golden during caller marketplace turbulence, Chung suggested BTC could “catch up” and perchance outperform accepted safe-haven assets by year’s end.

Chung besides reaffirmed Presto’s people for Ether (ETH), maintaining its valuation exemplary based connected the ETH-to-BTC ratio, reflecting assurance successful Ethereum’s ongoing web improvements.

Bitcoin hits $94,000 arsenic organization adoption expands

Echoing Chung’s view, Bitwise CEO Hunter Horsley said successful a caller station connected X that Bitcoin’s surge to $94,000 has occurred with minimal retail participation, noting that Google searches for “Bitcoin” stay adjacent semipermanent lows.

According to Horsley, the existent rally is being driven by organization investors, fiscal advisers, corporations, and adjacent nation-states.

“The types of investors buying Bitcoin is expanding,” Horsley said.

Corporate Bitcoin treasuries already clasp astir $65 cardinal worthy of BTC, according to data from BitcoinTreasuries.NET.

On April 22, analysts from Standard Chartered and Intellectia AI said organization Bitcoin request from exchange-traded funds and traders seeking to hedge against macroeconomic hazard could origin Bitcoin’s terms to much than treble this year.

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