Bold Call: Bitcoin Could Soar To $210K This Year, Says Research Chief

Bitcoin might hit an all-time high of $210,000 by the end of this year, says a fresh set of predictions by a prominent quantitative trading firm. Head of Research at Presto, Peter Chung, made this sweeping prediction in an interview with CNBC on April 28.

The bullish price target is based on increasing large institution buying of Bitcoin and increasing global cash flow. Chung feels that both of these factors will send Bitcoin’s price higher than ever before.

Bitcoin experienced some tough times, but corrections were necessary strides toward mainstream acceptance, Chung explained in the interview. He called Bitcoin a two-sided coin: it is a “risk-on” asset during confident markets but becomes “digital gold” under financial stress.

As noted by Chung, history has revealed how Bitcoin reacts during times of crisis. The Russia-Ukraine war in 2022, the collapse of Silicon Valley Bank in 2023, and recent market tension all put Bitcoin’s position as a risky investment or safe haven to the test.

Though Bitcoin didn’t rocket like gold amid recent market stress, Chung expects it to “catch up” and outperform by year-end. Such responses to global crises are uncommon but interesting to reveal about the evolving role of Bitcoin in the financial system.

The $210,000 prediction isn’t a wild guess. Chung first discussed this target last January, utilizing a particular metric known as the Market Value to Realized Value (MVRV) ratio. The latter compares the current market value of Bitcoin to the average price of coins that have moved.

Presto estimated Bitcoin’s realized value for 2025 and used a historical 3.5x multiple to arrive at their target. Financial analysts tend to use this ratio to identify market extremes and possible turning points.

Meanwhile, analysts attribute rising activity by “whales” – large crypto holders – as a indicator of high market confidence. Such large investors keep on purchasing Bitcoin even at the existing prices. They believe that if this pace keeps going, BTC could go even higher than current projection, reaching as high as $300,000 to $500,000.

Quite obviously, it is not Presto alone who anticipates that Bitcoin can really get up to the six-figure mark. Robert Kiyosaki, the famous author of the book “Rich Dad Poor Dad,” also predicts that the crypto can reach the mark of $180,000 to $200,000 in 2025.

Looking ahead a few more years, Kiyosaki has predicted that Bitcoin will reach the magical number of $1 million in 2035.

Although these forecasts indicate profound optimism in the crypto markets, it must be remembered that at the end of the day, the prices of cryptocurrencies still fall under extremely volatile conditions, no matter how significant analyses and trends would be.

Featured image from Unsplash, chart from TradingView