Peter Chung, Research Director at quantitative trading firm Presto, has maintained his 2025 target for Bitcoin. Chung predicts Bitcoin will rise to $210,000, driven by institutional adoption and expanding global liquidity.
Chung said in his statement, “There has been no change in our market outlook. Our target price for Bitcoin remains at $210,000.” Stating that they also maintain their targets for Ethereum, Chung stated that they expect the ETH/BTC ratio to remain stable at 0.05.
Despite the macroeconomic outlook and market reactions developing differently than expected, Chung sees this process as a “healthy correction.” According to him, this correction paved the way for Bitcoin’s repositioning as a mainstream asset.
Related News: This Altcoin’s Developers Are Regularly Selling Large Amounts – Onhain Data Shows
Stating that Bitcoin has two different faces, Chung said, “Bitcoin often acts as a risky asset, a network based on user adoption. However, it acts like digital gold in times of crisis.” According to Chung, this ‘safe haven’ function of Bitcoin comes to the fore in times when doubts about the stability of the US dollar-centered financial system increase. Russia’s attack on Ukraine (2022), the Silicon Valley Bank collapse (2023) and recent economic tensions are cited as examples of this situation.
*This is not investment advice.
Continue Reading: Chinese Analyst Reveals His Target Price for Bitcoin (BTC)
