The cryptocurrency industry has been on an uptrend. The world’s largest cryptocurrency, Bitcoin (BTC), was seen recording new peaks throughout the last couple of days. The king coin surged all the way to a high of $108,268.45 earlier this week.
This uptick further led to the community rolling out ambitious predictions for the market. Prominent cryptocurrency exchange Bitfinex recently hopped onto this trend and had a new prediction for the king coin.
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Can Bitcoin Reach $200,000 Soon?
According to a recent report by Bitfinex, Bitcoin is all set to witness major downfalls in the coming year. But these drops in 2025 will be brief. This is mostly because of robust institutional demand. The report further read,
“Our view is that any corrections in 2025 will remain mild, thanks to institutional inflows.”
In the best-case scenario, they projected that the price of Bitcoin will double by June 2025. The firm predicted that the asset could range from “$145,000 by mid-2025, potentially stretching to $200,000 under favorable conditions.”
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Current Market Scenario
According to data from CoinMarketCap, the world’s largest cryptocurrency, Bitcoin was trading at $103,805.77 during press time. The king coin witnessed a 2.48% drop over the past 24 hours. The asset is currently 5% below its all-time high.
Bitcoin needs to surge over 92% in order to reach a high of $200,000. It should be noted that the king coin has increased by more than 150% throughout the past 12 months.
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This further highlights the possibility of BTC mirroring its yearly trend and moving beyond $200,000 in the coming year. In addition, the leading cryptocurrency could also benefit from the change in the US government amidst an array of several factors.
