Bitcoin Price Prediction Reaches $210,000 by Year-End According to Analyst
Bitcoin could reach an all-time high of $210,000 by the end of this year, according to Peter Chung, Head of Research at Presto, in a CNBC interview.
Key Factors Driving Price Predictions
- Increased institutional buying of Bitcoin
- Rising global cash flow
- Historical performance during financial stress
Chung describes Bitcoin as both a "risk-on" asset and "digital gold," depending on market conditions. He believes that despite recent challenges, Bitcoin will eventually "catch up" and outperform traditional safe havens like gold.
Market Value Metrics Support Forecast
- The $210,000 target is based on the Market Value to Realized Value (MVRV) ratio
- This ratio compares Bitcoin's current market value to its average transaction price
- Presto's analysis uses a historical multiple of 3.5x for projections
- Large crypto holders, or "whales," continue to purchase Bitcoin, indicating strong market confidence
- Some analysts predict potential highs of $300,000 to $500,000 if buying continues
Other Predictions Align with Optimism
- Robert Kiyosaki anticipates Bitcoin prices between $180,000 and $200,000 in 2025
- Kiyosaki forecasts a potential rise to $1 million by 2035
Despite optimistic forecasts, cryptocurrency prices remain highly volatile.