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Bitcoin is expected to reach $100,000 in 2025
Summary:
A Bloomberg report stated that Bitcoin is expected to reach $100,000 in 2025.
Unstable stock performance has fueled greater interest in cryptocurrencies.
However, another analyst said that institutional investors still want to increase regulatory transparency and wait for the market value of cryptocurrencies to increase. A Bloomberg report shows that as the stock market continues to fluctuate, investors are approaching Bitcoin in a similar way to assets such as gold. According to historical trends, the price of Bitcoin is now expected to reach the $100,000 mark in 2025.
The "Bloomberg Cryptocurrency Outlook Fourth Quarter Report" shows that Bitcoin may benefit from the increasingly volatile stock market and be regarded as a store of value like precious metals.
"In the context of the highest stock market capitalization since the Great Depression, U.S. equity prices have reached the highest market capitalization and gross domestic product (GDP) in a year. It is logical that most assets are expected to be increasingly subject to turbulence. The impact of the stock market,” said Mike McGlone, senior commodity strategist at Bloomberg Intelligence, in this report.
The report pointed out that the price of Bitcoin has soared from approximately US$1,000 in 2013 to US$10,000 in 2017 in four years, and may reach the US$100,000 mark by 2025. This means that Bitcoin may reach its 2019 high of $14,000 as early as this year. The report said: "Or, this new technology may fail, but our demand indicators are positive."
The report pointed out that the market value of Grayscale Bitcoin Trust is “close to the equivalent of holding 500,000 Bitcoins,” which is more than twice the value of the same period a year ago.
McGlone further pointed out that due to increased volatility in the stock market, Bitcoin, like gold, has increased demand. He also cited a chart showing that the correlation between Bitcoin and gold in the BI database has reached its highest level in 12 months since 2010.
Aite Group Capital Markets Industry Analyst Spencer Mindlin declined to comment on the price target, but told Decrypt that once there is greater comfort around the size of the asset class and the overall environment, the real drive for demand is institutional buying.
He said that in terms of improving transparency, institutional investors are looking for two main areas. The first is market value.
He said:
"The market value needs to be expanded to get the attention of traditional institutional investors. If the market value is not enough to support the 1% distribution, they will not pay attention."
The second key factor Mindlin pointed out included issues such as market access and ease of education. He said that investors are not fully satisfied with the clarity of regulation, asset safety and related issues.
However, if prices continue to follow the current trajectory, investors may feel at ease anyway.
Bitcoin is expected to reach $100,000 in 2025
Summary:
A Bloomberg report stated that Bitcoin is expected to reach $100,000 in 2025.
Unstable stock performance has fueled greater interest in cryptocurrencies.
However, another analyst said that institutional investors still want to increase regulatory transparency and wait for the market value of cryptocurrencies to increase. A Bloomberg report shows that as the stock market continues to fluctuate, investors are approaching Bitcoin in a similar way to assets such as gold. According to historical trends, the price of Bitcoin is now expected to reach the $100,000 mark in 2025.
The "Bloomberg Cryptocurrency Outlook Fourth Quarter Report" shows that Bitcoin may benefit from the increasingly volatile stock market and be regarded as a store of value like precious metals.
"In the context of the highest stock market capitalization since the Great Depression, U.S. equity prices have reached the highest market capitalization and gross domestic product (GDP) in a year. It is logical that most assets are expected to be increasingly subject to turbulence. The impact of the stock market,” said Mike McGlone, senior commodity strategist at Bloomberg Intelligence, in this report.
The report pointed out that the price of Bitcoin has soared from approximately US$1,000 in 2013 to US$10,000 in 2017 in four years, and may reach the US$100,000 mark by 2025. This means that Bitcoin may reach its 2019 high of $14,000 as early as this year. The report said: "Or, this new technology may fail, but our demand indicators are positive."
The report pointed out that the market value of Grayscale Bitcoin Trust is “close to the equivalent of holding 500,000 Bitcoins,” which is more than twice the value of the same period a year ago.
McGlone further pointed out that due to increased volatility in the stock market, Bitcoin, like gold, has increased demand. He also cited a chart showing that the correlation between Bitcoin and gold in the BI database has reached its highest level in 12 months since 2010.
Aite Group Capital Markets Industry Analyst Spencer Mindlin declined to comment on the price target, but told Decrypt that once there is greater comfort around the size of the asset class and the overall environment, the real drive for demand is institutional buying.
He said that in terms of improving transparency, institutional investors are looking for two main areas. The first is market value.
He said:
"The market value needs to be expanded to get the attention of traditional institutional investors. If the market value is not enough to support the 1% distribution, they will not pay attention."
The second key factor Mindlin pointed out included issues such as market access and ease of education. He said that investors are not fully satisfied with the clarity of regulation, asset safety and related issues.
However, if prices continue to follow the current trajectory, investors may feel at ease anyway.