Bitcoin prices have seen an immense demand and rise in prices recently. The OG cryptocurrency has shattered records by hitting a new all-time high for two consecutive days.
With this remarkable trading, investors are now wondering if Bitcoin prices can hit the $200K mark in the coming year. However, contrary to the given opinion, Zakhil Suresh, CMT, Founder & CEO at BitSave, believes that Bitcoin might not reach this level in 2025.
In an exclusive interview with UnoCrypto, Zakhil said “My prediction this cycle for Bitcoin is 200-250k. It may or may not get to those levels in 2025 though.”
Bitcoin Prices Hit $89K level: Will the Optimism Continue?
The aftermath of the US 2024 elections and MicroStrategy’s big Bitcoin purchase saw the prices for BTC hit a new all-time high. As UnoCrypto reported earlier, after a surprising 8% increase in only one day, Bitcoin reached a new all-time high of about $89,560, marking a significant milestone.
Commenting on the price of Bitcoin, Zakhil said “Fed has started to cut rates and there are roughly 60 Trillion USD waiting for better returns and they are likely to allocate at least a small portion into an asset that has low correlation to stocks and is apolitical. So the optimism can last.”
With the expectations of a price rise, market participants are now wondering if Bitcoin will continue the price rise in the future. Commenting on this Zakhil added “An important thing to note is – we haven’t started to see much retail participation yet. Moreover, a lot of institutions are going to decide their allocation this quarter and the money will start flowing from January. More demand and the same apply only means one thing – higher prices.”
Bitcoin Price Predictions: What Do Experts Have To Say?
With prices ranging above previous market expectations, many analysts have predicted that Bitcoin’s $90K mark is highly likely and not far away.
At present, Bitcoin has a 56% chance of hitting $100,000 by the end of 2024, according to Kalshi’s calculations, and an astounding 97% chance of staying above $90,000.
On the other hand, Bernstein analysts have made predictions that Bitcoin will reach $200,000 by the end of 2025. This positive view is supported by a number of macroeconomic factors that increase demand for hard assets like Bitcoin, such as the United States’ fiscal irresponsibility, record debt levels, and continuous monetary growth.
Furthermore, this increasing trend is anticipated to be further accelerated by the growing success of U.S. spot Bitcoin Exchange-Traded Funds (ETFs).
Supporting this ETF theory, Zakhil believes that “Bitcoin’s long-standing regulatory overhang seems to be lifting as constructive policy shifts and ETF approvals reshape the landscape. With the leading barrier for advisors and institutions, and regulatory concerns, now easing, this momentum opens the door for wider institutional adoption.”
He adds “It’s a pivotal moment, underscoring my optimism about Bitcoin’s potential in a maturing market environment. Previously when rates were cut, they (Investors) couldn’t buy Bitcoin because there were no regulated offerings. Now with ETFs, it’s a different story.”