It looks like a Wall Street analyst is extremely bullish on Bitcoin and said that the king crypto could hit $200,000 by 2025. Check out the latest reports about the price predictions of BTC below.
Bitcoin to skyrocket until 2025
The value of Bitcoin has surged by 65% to around $68,000 since the start of 2024. However, some Wall Street analysts still believe that there is a significant potential for growth.
Gautam Chhugani at Bernstein predicts that Bitcoin will reach $150,000 by mid-2025, which implies a price increase of 120% (or $82,000) over the next 12 to 18 months.
Similarly, Geoff Kendrick at Standard Chartered Bank thinks that Bitcoin could reach $200,000 by the end of 2025, which implies a price increase of 194% (or $132,000) over the next 21 months.
Cryptos are similar to other assets in that their value is determined by the forces of supply and demand.
However, Bitcoin has a limited supply of 21 million coins, with 19.7 million (94%) already in circulation. This means that demand is the most significant factor affecting the value of Bitcoin.
Chhugani and Kendrick believe two catalysts will turbocharge Bitcoin demand in the coming months: the recent approval of spot Bitcoin exchange-traded funds (ETFs) and the halving event next month.
In January, the Securities and Exchange Commission (SEC) gave the green light to 11 Bitcoin exchange-traded funds (ETFs) that track the price of Bitcoin.
These are spot Bitcoin ETFs that invest directly in the cryptocurrency, as opposed to Bitcoin futures ETFs that were introduced in 2021. In other words, spot Bitcoin ETFs are designed to precisely follow the movements of Bitcoin prices.
Bitcoin futures ETFs invest in futures contracts, which are agreements to buy or sell assets at agreed-upon prices on predetermined dates. As a result, they do not track Bitcoin prices as precisely.
At the moment of writing this article, BTC is trading in the green and the king coin is priced at $65,312.