The world’s largest cryptocurrency, Bitcoin (BTC), stunned the entire market with its surge above $100,000. The halving event that occurred in 2024, followed by Donald Trump’s inclination towards the market, put BTC on a pedestal. In addition to its rise beyond $100,000, the king coin went on to hit an all-time high of $109,114.88. Despite its current setback, several analysts and industry experts are confident about Bitcoin’s rise. More recently, Peter Chung, head of research at prominent trading firm Presto laid out a notable prediction for BTC.
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While most predictions suggest that Bitcoin is expected to reach $200,000 this year, Chung decided to go a step further. Appearing in a recent interview with CNBC, Chung predicted that BTC will hit $210,000 by the end of the year. He stated that the main factors influencing his long-term positive perspective were institutional adoption and the growth of global liquidity.
Bitcoin’s $210K target reaffirmed: volatility, institutional adoption, and global liquidity are fueling the next big move. Watch Peter Chung, our Head of Research, share insights on CNBC Asia’s Squawk Box. https://t.co/kzJaUVhNs6
— Presto Research (@Presto_Research) April 28, 2025
The king coin has witnessed a slowdown lately. Throughout the months of March and April, BTC barely noticed major upticks. The asset even slipped down to a low of $74,436.68. Speaking about the same, Chung highlighted the importance of this kind of correction. He said,
“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.”
While the fate of Bitcoin remains uncertain, most predictions point towards the asset’s rise to $200,000. The volatile nature of the cryptocurrency market could bring in big gains for investors or leave them counting losses.
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How High Is Bitcoin Trading Today?
Bitcoin registered a notable recovery over the past couple of days. The king coin increased by over 8% throughout the past week. The asset went from trading below $90,000 to a high of $95,768.39. At the time of writing, Bitcoin was trading at $94,334.08 following a dainty rise of 0.33%.
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