Bitcoin to hit $210,000 by 2025, says Presto's Chung

Peter Chung, Research Director at the quantitative trading firm Presto, has reiterated his prediction that Bitcoin will reach $210,000 by the end of 2025. This forecast is based on his long-term bullish view, driven by the global expansion of liquidity. Chung believes that despite the less-than-ideal market conditions this year, the recent market pullback has been a "healthy" correction, setting a more solid foundation for Bitcoin's transition to a mainstream financial asset.

Chung acknowledges the challenges posed by the current macroeconomic landscape and market reactions. However, he maintains that the recent market pullback has been beneficial, as it has paved the way for further repricing of Bitcoin as a mainstream asset. This perspective underscores the resilience of Bitcoin and its potential for long-term growth, despite short-term market fluctuations.

Chung's prediction is based on the belief that global liquidity expansion will continue to drive the value of Bitcoin. This view is supported by the increasing acceptance of Bitcoin as a legitimate financial asset, as well as the growing interest from institutional investors. As more investors recognize the potential of Bitcoin, its value is expected to continue to rise, reaching the predicted $210,000 by the end of 2025.