Bitcoin surged above $100,000, bolstering Wall Street bulls and fueling predictions for a potential doubling in price by the end of next year. Analysts attribute the rally to crypto-friendly policies under Donald Trump’s administration.
Gautam Chhugani, a Bernstein analyst, expects Bitcoin to reach a cycle-high of $200,000 in late 2025. The analyst credits Trump’s pick of Paul Atkins as chair of the Securities and Exchange Commission, as well as a broader regulatory direction, for the positive outlook.
Chhugani notes that Bitcoin will likely converge with traditional capital markets, transforming financial services globally. He expects the digital asset to emerge as the new “store of value” eventually replacing Gold over the next decade.
Standard Chartered analysts also predict institutional investors will continue to drive Bitcoin’s price upward. Geoff Kendrick, global head of digital assets research, forecasts global pension funds will increase their spot ETF holdings due to expected regulatory changes.
As a result, Kendrick sets a price target of $200,000 for end-2025, citing accelerated investor optimism following the SEC announcement that Chair Gary Gensler will step down on January 20, 2025. Bitcoin has rallied nearly 130% year-to-date and roughly 45% since Trump’s White House victory in November.
Source: https://finance.yahoo.com/news/bitcoin-just-crossed-100000-for-the-first-time-wall-street-sees-200000-following-soon-200622402.html