Bitcoin Breaks $100K, Could Double by 2025!
The crypto world is buzzing after Bitcoin smashed through the $100,000 ceiling, leaving analysts scrambling to predict what’s next. Could this be just the beginning of a meteoric rise?
Standard Chartered’s digital asset guru, Geoff Kendrick, thinks so. He believes Bitcoin could hit a jaw-dropping $200,000 by 2025, fueled by a tsunami of institutional investment pouring into spot ETFs. Kendrick points to the insatiable appetite of MicroStrategy, the laser-eyed Bitcoin behemoth, which has been gobbling up Bitcoin faster than a hungry Pac-Man. Since Election Day alone, MicroStrategy’s Bitcoin hoard has swelled by a staggering $15 billion!
Kendrick envisions pension funds and even sovereign wealth funds joining the Bitcoin party in 2025. He also throws in a tantalizing, albeit “low-probability,” scenario: a US strategic Bitcoin reserve, a concept championed by Coinbase CEO Brian Armstrong, who believes every government should consider it. Imagine Uncle Sam hoarding Bitcoin!
But what about the here and now? The $100,000 mark is more than just a number; it’s a psychological barrier, a siren call to new investors who were previously hesitant to dive in, according to 21Shares’ Matt Mena.
However, Brent Kenwell of eToro cautions that this milestone could trigger a profit-taking frenzy among existing holders, leading to a temporary dip. Indeed, Bitcoin experienced a brief flash crash on Thursday, plunging to $93,000 before recovering to flirt with the $102,000 mark again on Friday.
As FXTM analyst Lukman Otunuga wisely observed, a strong weekly close above $100,000 could signal further gains. But if Bitcoin falters and closes below this crucial level, bears might pounce, pushing the price down to $95,000.
The Bitcoin rollercoaster continues its wild ride. Buckle up! The next few weeks will be crucial in determining whether Bitcoin consolidates its gains above $100,000 or faces a temporary setback. One thing’s for sure: the drama in the crypto world is far from over.
<p>The post Bitcoin to $200K in 2025? Analyst Says Possible first appeared on CoinBuzzFeed.</p>
