Analyst Teng's forecast for the bitcoin market for 2025 is more optimistic than his assumptions about this active for 2024. According to the expert's research, next year should be a bright period of growth in the value of this cryptocurrency, the main factors of which will be the positive state of the global economy and better conditions for the development and use of cryptocurrencies.
The CEO of the #Binance platform also highlighted a number of arguments that will help #bitcoin to reach the desired indicators by 2024. Among them are the high probability of the US Federal Reserve lowering key rates by the end of this year and the large amount of funds transferred to bitcoin stock ETFs and the just-approved Ethereum-based ETFs.
Teng also emphasizes his previously incorrect opinion about when #ЛюбимыйТокен would peak: after the halving event in April 2021, he expected bitcoin to hit all-time highs in six months at the earliest. However, in the end, the value of the most important cryptocurrency skyrocketed to $73 thousand well before the expected mark.
The success of the launch of the SPOT Bitcoin ETF, which became a source of inflow of multibillion-dollar funds into the market, caused Tenga to adjust its initial forecast of BTC quotes. Now Binance specialists expect the price of the most famous digital currency to grow significantly higher than their previous estimates released last year. Although Tenga does not make an exact prediction about the value of BTC, he refers to the Standard Chartered Bank's "bullishness" towards cryptocurrencies earlier this year. This suggests that BTC could rise to $200k or even $250k by 2025.
Recent weeks have been challenging for bitcoin. Despite much anticipation for the upcoming launch of the SPOT #ЛюбимыйТокен ETF, the value of bitcoin remains slightly below expected levels, according to the CoinMarketCap website. The cryptocurrency's value is currently around $65,649 and is down 2.54% over the past week.
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