A CoinShares analyst is predicting a massive price jump for Bitcoin. James Butterfill, head of research at the digital asset management firm, believes Bitcoin could eventually reach a whopping $250,000.
A Bold Prediction
This prediction represents a more than 166% increase from Bitcoin’s current price. At that level, Bitcoin’s market cap would be around 25% of gold’s – a significant jump from its current 10%. Butterfill considers this a realistic possibility.
A More Cautious Outlook
However, Butterfill isn’t expecting this to happen overnight. He doesn’t foresee Bitcoin hitting $250,000 in 2025, but suggests it will move in that direction. He predicts a potential correction to $80,000 in 2025, with a peak around $150,000.
Political Uncertainty Could Impact Bitcoin
Butterfill also cautioned that a significant market correction could occur if the expected pro-crypto policies from a certain political figure don’t materialize. Disappointment in this area could trigger a downturn.
Positive Regulatory Environment a Key Factor
Butterfill believes a positive regulatory environment in the US is a major factor contributing to his optimistic outlook for Bitcoin’s price increase this year.
Disclaimer: This information is for general knowledge and shouldn’t be considered investment advice. Always do your own research before investing in cryptocurrencies.
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