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

Peter Chung, head of research at quantitative trading firm Presto, has repeated his prediction that Bitcoin ( BTC ) will reach $210,000 by the end of 2025. In an April 28 interview with CNBC, Chung cited institutional adoption and global liquidity expansion as the primary drivers behind his long-term bullish outlook. The analyst acknowledged that market conditions this year haven’t been as expected, specifically the challenging macroeconomic environment and market reaction. However, he described the recent corrections as a “healthy” adjustment, suggesting they have laid a stronger foundation for Bitcoin’s progression toward becoming a mainstream financial asset. “In hindsight, I think it was actually a healthy correction which has paved the way for the further re-rating of Bitcoin as a mainstream asset,” he said. Related: Bitcoin trades at ‘40% discount’ as spot BTC ETF buying soars to $3B in one week Bitcoin’s dual role Chung also discussed Bitcoin’s dual nature, describing it as both a “risk-on asset” and “digital gold.” He said that Bitcoin typically behaves like a high-risk asset driven by user adoption and network effects. However, during periods of financial instability, such as the 2022 outbreak of the Russia-Ukraine conflict or the 2023 Silicon Valley Bank collapse, Bitcoin tends to act as a safe-haven asset, similar to gold. “These moments are rare,” Chung explained, “[They] only happened when the market has doubts about the stability of the US dollar-dominated financial system.” While Bitcoin has lagged behind gold during recent market turbulence, Chung suggested BTC could “catch up” and potentially outperform traditional safe-haven assets by year’s end. Chung also reaffirmed Presto’s target for Ether ( ETH ), maintaining its valuation model based on the ETH-to-BTC ratio, reflecting confidence in Ethereum’s ongoing network improvements. Related: New Bitcoin price all-time highs could occur in May Bitcoin hits $94,000 as institutional adoption expands Echoing Chung’s view, Bitwise CEO Hunter Horsley said in a recent post on X that Bitcoin’s surge to $94,000 has occurred with minimal retail participation, noting that Google searches for “Bitcoin” remain near long-term lows. According to Horsley, the current rally is being driven by institutional investors , financial advisers, corporations, and even nation-states. “The types of investors buying Bitcoin is expanding,” Horsley said. Hunter Horsley pointing out growing Bitcoin adoption among institutions. Source: Hunter Horsley Corporate Bitcoin treasuries already hold nearly $65 billion worth of BTC, according to data from BitcoinTreasuries.NET. On April 22, analysts from Standard Chartered and Intellectia AI said institutional Bitcoin demand from exchange-traded funds and traders seeking to hedge against macroeconomic risk could cause Bitcoin’s price to more than double this year . Magazine: Financial nihilism in crypto is over — It’s time to dream big again

Source: CoinTelegraph