Bitcoin (BTC), the world’s largest cryptocurrency, shocked the entire market with a surge of over $100,000. The 2024 Harving event and the Donald Trump trend towards the market continued, putting BTC on the pedestal. In addition to a rise of over $100,000, Kingcoin reached an all-time high of $109,114.88. Despite the current set-off, several analysts and industry experts are confident in the rise in Bitcoin. More recently, Peter Chung, the head of research at the well-known trading company Presto, presented a prominent prediction for BTC.
Most predictions suggest that Bitcoin is expected to reach $200,000 this year, but Chung decided to go a step further. Chung, who appeared in a recent interview with CNBC, predicted that BTC would reach $210,000 by the end of the year. He said that the main factors affecting his long-term positive perspective are institutional adoption and growth in global fluidity.
Bitcoin’s $210,000 goal has been reaffirmed: volatility, institutional adoption, and global liquidity are driving the next major move: Our Head of Research Peter Chong shares insights on CNBC Asia’s Squish Workbox. https://t.co/kzjauvhns6
– Presto Research (@presto_research) April 28, 2025
Kingcoin recently witnessed a slowdown. Throughout the months of March and April, BTC barely noticed a significant increase. The assets even slipped to a low of $74,436.68. Speaking about the same thing, Chung emphasized the importance of this type of correction. He said,
“In hindsight, I think it was actually a healthy revision that paved the way for further reassessment of Bitcoin as a mainstream asset.”
The fate of Bitcoin remains uncertain, but most forecasts point to asset rising to $200,000. The volatile nature of the cryptocurrency market can bring great profits or count losses for investors.
How much does Bitcoin trade today?
Bitcoin has registered a notable recovery over the past few days. Kingcoin has increased by more than 8% over the past week. The assets have traded from less than $90,000 to $95,768.39. At the time of writing, Bitcoin was trading at $94,334.08 after a 0.33% increase.
