Peter Chung, the head of research at quantitative trading firm Presto, has reiterated his forecast that Bitcoin (BTC) could potentially reach $210,000 by the conclusion of 2025. During an interview with CNBC on April 28, Chung highlighted institutional adoption and global liquidity expansion as the main factors propelling his optimistic long-term view. Despite the unexpected market conditions this year, including a challenging macroeconomic environment and market reactions, Chung considers the recent corrections as a beneficial adjustment that has set a robust foundation for Bitcoin’s journey to becoming a mainstream financial asset. He referred to the corrections as a “healthy” process that could lead to Bitcoin’s re-rating as a mainstream asset. Chung also discussed Bitcoin’s dual role as both a “risk-on asset” and “digital gold,” indicating that during times of financial instability, such as geopolitical conflicts or economic crises, Bitcoin tends to act as a safe-haven asset similar to gold. Additionally, Chung reaffirmed Presto’s target for Ether (ETH), based on the ETH-to-BTC ratio, reflecting confidence in Ethereum’s ongoing network enhancements. Aligning with Chung’s perspective, Bitwise CEO Hunter Horsley pointed out that Bitcoin’s surge to $94,000 has been largely driven by institutional investors, financial advisers, corporations, and even nation-states, with minimal retail participation. The current rally is characterized by a growing interest from institutional investors, which could potentially lead to a significant price increase for Bitcoin in the near future. Institutional Bitcoin demand, particularly from exchange-traded funds and traders looking to hedge against macroeconomic risks, could potentially double Bitcoin’s price this year, according to analysts from Standard Chartered and Intellectia AI. Corporate Bitcoin treasuries currently hold nearly $65 billion worth of BTC, underscoring the increasing institutional adoption of the cryptocurrency.<\/p>\n","protected":false},"excerpt":{"rendered":"
Peter Chung, the head of research at quantitative trading firm Presto, has reiterated his forecast that Bitcoin (BTC) could potentially reach $210,000 by the conclusion of 2025. During an interview with CNBC on April 28, Chung highlighted institutional adoption and global liquidity expansion as the main factors propelling his optimistic long-term view. Despite the unexpected […]<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"footnotes":""},"categories":[25],"tags":[],"aioseo_notices":[],"featured_image_urls":{"full":"","thumbnail":"","medium":"","medium_large":"","large":"","1536x1536":"","2048x2048":""},"author_info":{"display_name":"","author_link":"https:\/\/vanillanews.com\/index.php\/author\/"},"category_info":"JUST IN<\/a>","tag_info":"JUST IN","comment_count":"0","_links":{"self":[{"href":"https:\/\/vanillanews.com\/index.php\/wp-json\/wp\/v2\/posts\/119159"}],"collection":[{"href":"https:\/\/vanillanews.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/vanillanews.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/vanillanews.com\/index.php\/wp-json\/wp\/v2\/comments?post=119159"}],"version-history":[{"count":0,"href":"https:\/\/vanillanews.com\/index.php\/wp-json\/wp\/v2\/posts\/119159\/revisions"}],"wp:attachment":[{"href":"https:\/\/vanillanews.com\/index.php\/wp-json\/wp\/v2\/media?parent=119159"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/vanillanews.com\/index.php\/wp-json\/wp\/v2\/categories?post=119159"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/vanillanews.com\/index.php\/wp-json\/wp\/v2\/tags?post=119159"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}