$150,000 BITCOIN IN 2025?
Many industry watchers say the outlook is looking bright at the moment, with investors buying bitcoin ahead of the blockchain’s “halving” – a preplanned process that reduces mining rewards in half every four years – due in April.
Gautam Chhugani, analyst at Bernstein, expects 2024 to be a break-out year for cryptocurrencies where bitcoin hits all-time highs followed by a peak of $150,000 by mid-2025.
“This optimistic outlook is bolstered by the expectation of an upcoming halving event and the possibility of interest-rate reductions,” CCData analysts said.
While bitcoin remain 32 per cent away from its record high of $69,000, it notched an all-time high against the Japanese yen at 7,919,000 yen last week.