Categories: Bitcoin Latest News

Bold Call: Bitcoin Could Soar To $210K This Year, Says Research Chief

Bitcoin might hit an all-time high of $210,000 by the end of this year, says a fresh set of predictions by a prominent quantitative trading firm. Head of Research at Presto, Peter Chung, made this sweeping prediction in an interview with CNBC on April 28.

Institutional Money And Global Liquidity Drive Bullish Outlook

The bullish price target is based on increasing large institution buying of Bitcoin and increasing global cash flow. Chung feels that both of these factors will send Bitcoin’s price higher than ever before.

Bitcoin experienced some tough times, but corrections were necessary strides toward mainstream acceptance, Chung explained in the interview. He called Bitcoin a two-sided coin: it is a “risk-on” asset during confident markets but becomes “digital gold” under financial stress.

Bitcoin’s Response To Economic Stress Tests

As noted by Chung, history has revealed how Bitcoin reacts during times of crisis. The Russia-Ukraine war in 2022, the collapse of Silicon Valley Bank in 2023, and recent market tension all put Bitcoin’s position as a risky investment or safe haven to the test.

Though Bitcoin didn’t rocket like gold amid recent market stress, Chung expects it to “catch up” and outperform by year-end. Such responses to global crises are uncommon but interesting to reveal about the evolving role of Bitcoin in the financial system.

MVRV Ratio Points To $210,000 Target

The $210,000 prediction isn’t a wild guess. Chung first discussed this target last January, utilizing a particular metric known as the Market Value to Realized Value (MVRV) ratio. The latter compares the current market value of Bitcoin to the average price of coins that have moved.

Presto estimated Bitcoin’s realized value for 2025 and used a historical 3.5x multiple to arrive at their target. Financial analysts tend to use this ratio to identify market extremes and possible turning points.

Meanwhile, analysts attribute rising activity by “whales” – large crypto holders – as a indicator of high market confidence. Such large investors keep on purchasing Bitcoin even at the existing prices. They believe that if this pace keeps going, BTC could go even higher than current projection, reaching as high as $300,000 to $500,000.

Other Experts Predict Similar Or Higher Prices

Quite obviously, it is not Presto alone who anticipates that Bitcoin can really get up to the six-figure mark. Robert Kiyosaki, the famous author of the book “Rich Dad Poor Dad,” also predicts that the crypto can reach the mark of $180,000 to $200,000 in 2025.

Looking ahead a few more years, Kiyosaki has predicted that Bitcoin will reach the magical number of $1 million in 2035.

Although these forecasts indicate profound optimism in the crypto markets, it must be remembered that at the end of the day, the prices of cryptocurrencies still fall under extremely volatile conditions, no matter how significant analyses and trends would be.

Featured image from Unsplash, chart from TradingView

[#item_full_content]NewsBTCRead More

Recent Posts

Charles Schwab to Launch Bitcoin Trading, Directly Targeting Coinbase Users

Bitcoin Magazine Charles Schwab to Launch Bitcoin Trading, Directly Targeting Coinbase Users  Charles Schwab is…

4 hours ago

Coinsilium’s Bitcoin Treasury Surpasses 112 BTC Following Latest £920,000 Purchase

Bitcoin Magazine Coinsilium’s Bitcoin Treasury Surpasses 112 BTC Following Latest £920,000 Purchase  Coinsilium Group Limited…

5 hours ago

Bitcoin and the Next Wave of Institutional Capital

Bitcoin Magazine Bitcoin and the Next Wave of Institutional Capital There are multiple approaches to…

6 hours ago

Mathematically Predicting The Bitcoin & MSTR All Time Highs

Bitcoin Magazine Mathematically Predicting The Bitcoin & MSTR All Time Highs With Bitcoin breaking into…

9 hours ago

Bitcoin Rally Not Over Yet? Short-Term Holder MVRV Suggests Further Upside

As Bitcoin (BTC) consolidates just below the $120,000 mark, concerns are mounting over whether the…

12 hours ago

Bitcoin Trades Above $117K as Whale Deposits Decline and Stablecoin Inflows Rise

Bitcoin continues to maintain upward momentum despite a recent pullback from its all-time high. Currently…

17 hours ago