Peter Chung, head of research at the Presto quantitative company, repeated his forecast that Bitcoin (BTC) will reach USD 210,000 by the end of 2025.
On April 28 interview Thanks to CNBC, Chung cited institutional expansion and expansion of liquidity as the main drivers of its long -term stubborn perspectives.
The analyst admitted that market conditions this year were not in line with expectations, in particular a complex macroeconomic environment and a market reaction.
However, he described the last correction as a “healthy” adaptation, which suggests that they laid a stronger basis for Bitcoin’s progress towards becoming the financial resource of the mainstream.
“In retrospect, I think it was a healthy correction that paved the way for further Bitcoin evaluation as the mainstream,” he said.
https://www.youtube.com/watch?v=hnicqtnmsh0
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Double role of bitcoin
Chung also discussed the double nature of Bitcoin, describing it both as “risk assets” and “digital gold”.
He said that Bitcoin usually behaves like a high risk resource driven by users’ adoption and network effects.
However, during periods of financial instability, such as the outbreak of the Russian-Ukrainian conflict in 2022 or the breakdown of the Silicon Valley Bank 2023, Bitcoin tends to act as a protected assets similar to gold.
“These moments are rare,” Chung explained, “[They] It only happened when the market has doubts about the stability of the financial system dominated by the American dollar. “
While Bitcoin was behind gold during the last market turbulence, Chung suggested that BTC could “catch up” and potentially exceed time-honored protected assets until the end of the year.
Chung also confirmed the presto goal for ether (ETH), maintaining its valuation model based on the ETH-to-BTC ratio, reflecting confidence in the constant improvement of the Ethereum network.
Related: The fresh price of the Bitcoins of all time can occur in May
Bitcoin will reach USD 94,000 as institutional adoption develops
By echophyking Chung’s view, Hunter Horsley, general director of Bitwe, said in a recent post about X that Bitcoin’s boost to USD 94,000 occurred with a minimal retail share, noticing that the search on Google “Bitcoin” remain almost long -term.
According to Horsley, the current rally is managed by institutional investors, financial advisers, corporations and even national states.
“The type of investors buying Bitcoin is growing,” said Horsley.
Corporate Bitcoin Treasuries already has almost $ 65 billion in BTC, according to data from bitcointreasuries.net.
On April 22, analysts with the Standard Chartered and Intelexia AI stated that the institutional demand for bitcoins from funds and traders with the stock exchange who want to protect themselves against macroeconomic risk, may cause that the price of bitcoins will be over twice this year.
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