Is the "Road to Bitcoin Frenzy" Far from Over? Wall Street Analyst: $225,000!

As the price of Bitcoin gradually approaches the $100,000 mark, an analyst predicts that the surge in Bitcoin is far from over, and the price of this cryptocurrency will double in the next two years.

Mark Palmer, a senior analyst at New York investment bank The Benchmark Company, stated that he expects Bitcoin to soar to $225,000 by the end of 2026. This means that Bitcoin's price could rise by about 133.5% from its current level.

Three Catalysts

In a recent interview, he mentioned that this rebound will be primarily driven by institutional investors, stating that "their interest in Bitcoin will continue to grow over the next few years."

Palmer also pointed to the factor of Bitcoin halving. He noted that in the past three halving events, Bitcoin experienced a "significant increase" in the following 14-16 months, demonstrating how supply and demand changes affect the price of the cryptocurrency.

Bitcoin halving is an important mechanism in the Bitcoin protocol that occurs once every four years, aimed at controlling the issuance speed and total supply of Bitcoin, ensuring its scarcity. Specifically, Bitcoin halving refers to the reduction of mining rewards.

Additionally, Bitcoin's price may also benefit from a more favorable cryptocurrency environment, with investors hoping that Trump will help boost cryptocurrency prices during his second term.

For example, renowned American venture capitalist Tim Draper has been predicting Bitcoin's price since 2014, and in a recent interview, he stated that he expects Bitcoin's price to reach around $120,000 by the end of this year and $250,000 by 2025.