Bitcoin, the largest cryptocurrency in the world (BTC), shocked everyone with its rise above $100,000. BTC’s rise was boosted by Donald Trump and the 2024 halving. Aside from its growth beyond $100,000, this king-coin also hit an all time high of $109,114.88. Bitcoin is still expected to rise despite its recent setback. Peter Chung is the head of research for Presto Trading, and he recently gave a prediction that was notable.
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Chung went a step beyond the usual predictions that Bitcoin will reach $200,000 in this year. Chung stated in a CNBC interview that BTC is expected to reach $210,000 at the end the year. According to Chung, the institutional adoption of BTC and the increase in global liquidity are the primary factors which influence his optimistic long-term perspective.
Bitcoin’s target of $210k has been reaffirmed. Volatility, institution adoption and global liquidity will drive the next major move. Peter Chung shares his insights in CNBC Asia Squawk Box. https://t.co/kzJaUVhNs6
— Presto Research (@Presto_Research) April 28, 2025
Recently, the king coin’s price has dipped. BTC barely saw any major increases in March or April. It even dropped as low as $74,436.68. Chung stressed the importance of this type of correction when he spoke about it. He added:
“In hindsight, I think it was actually a healthy correction which has paved the way for the further re-rating of Bitcoin as a mainstream asset.”
Although the future of Bitcoin is still uncertain, many predictions predict that the asset will rise to $200,000 in the near future. Cryptocurrency markets are volatile and can bring investors big gains or losses.
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Bitcoin Trading: How high is it today?
Bitcoin experienced a noticeable recovery during the past two days. The King coin grew by over 8 percent in the last seven days. From trading under $90,000. The asset reached a peak of $95,768.39. Bitcoin traded at $94,334.08 after a modest rise of 0.33%.
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Source: watcher.guru
