Bitcoin (BTC) is on track to hit an astronomical $210,000 by the end of 2025, according to a bold prediction from Presto Research’s Head of Research, Peter Chang. In an interview with CNBC, Chang cited surging institutional interest, macroeconomic shifts, and Bitcoin’s evolving role as both a high-risk asset and digital gold as critical drivers of its price trajectory. This forecast aligns with recent bullish trends and institutional adoption, though challenges like regulatory uncertainty and market volatility loom large.
The $210,000 Prediction: Breakdown of Key Factors
1. Institutional Adoption Surge
Chang emphasized that institutional investors are increasingly viewing Bitcoin as a portfolio diversifier and hedge against inflation. Key trends include:
- Corporate Holdings: Companies like MicroStrategy and Tesla have added BTC to their treasuries, signaling confidence.
- ETF Momentum: The delayed Bitcoin ETF in the U.S. continues to attract demand, with $5 billion locked in futures-based funds.
- Advisor Inclusion: Financial advisors now recommend Bitcoin allocations, driven by its correlation reduction with traditional assets.
2. Liquidity Influx in Global Markets
Chang noted that central bank policies—particularly prolonged low-interest rates and quantitative easing—are pushing capital into alternatives like Bitcoin. The $21 trillion in global negative-yielding debt has made BTC’s scarcity-driven model increasingly attractive.
3. Bitcoin’s Dual Role: Risk and Safe Haven
- Volatility as an Opportunity: Bitcoin’s high volatility (10–20% daily swings) appeals to risk-tolerant traders seeking outsized returns.
- Crisis-Driven Demand: During geopolitical tensions (e.g., Ukraine war, China-U.S. trade disputes), Bitcoin often acts as a crisis hedge, outperforming gold in 2022.
4. Market Corrections as Catalysts
Chang described recent dips below $20,000 in early 2025 as “healthy corrections” that weeded out weak hands and solidified institutional dominance.
Expert Backing and Supporting Data
Hunter Horsley’s Insight
Hunter Horsley, CEO of Bitwise Asset Management, echoed Chang’s institutional focus:
“The Bitcoin rally to $94,000 this year wasn’t retail-driven. It’s institutions, corporations, and even nations diversifying away from the dollar.”
Horsley highlighted Google Trends data showing Bitcoin searches at multiyear lows despite price gains, signaling a shift from retail speculation to institutional quiet accumulation.
Standard Chartered’s Jeffrey Kendrick
On April 28, Jeffrey Kendrick of Standard Chartered projected BTC to hit $120,000 by Q4 2025, citing similar factors:
- Whale Accumulation: Institutions and “whales” (holders of ≥1,000 BTC) buying during dips.
- ETF Approval Momentum: U.S. regulators are under pressure to greenlight spot ETFs by mid-2025.
Bitcoin vs. Gold: The Battle for Safe-Haven Status
Chang argued Bitcoin could surpass gold’s $11 trillion market cap “by end-2025” due to:
- Decentralization: No reliance on central banks or governments.
- Transaction Efficiency: Lower costs and faster settlements than gold.
- Tech Integration: Blockchain advancements (e.g., Lightning Network) boost utility.
However, gold’s 6,000-year history and central bank holdings remain formidable advantages.
Market Context and Risks
Current Bitcoin Performance
As of April 2025, Bitcoin trades at ~$94,000, up 40% YTD. The S&P 500, by contrast, rose just 5%, underscoring Bitcoin’s decoupling from equities.
Potential Hurdles
- Regulatory Clampdown: SEC delays on ETFs or stricter AML rules could stall momentum.
- Macro Volatility: A U.S. recession or China’s crypto bans could trigger panic selling.
- Gold Competition: Central banks adding gold reserves (e.g., India’s $10 billion purchase in 2024) might limit Bitcoin’s appeal.
Technical Analysis: Path to $210,000
Key Resistance Levels
- $100,000: A psychological barrier; sustained trading above could trigger FOMO buying.
- $150,000: 2021 all-time high (ATH) resistance.
- $200,000: Institutional “round number” target for ETF launches.
Support Levels
- $60,000: 200-day moving average (psychological anchor).
- $40,000: 2022 lows; strong support if corrections occur.
Conclusion: Bitcoin’s Institutional Future
Chang’s $210,000 forecast underscores Bitcoin’s evolution from speculative asset to institutional cornerstone. While risks persist, the convergence of macro trends, ETF momentum, and decentralized innovation positions BTC to redefine financial markets. For investors, monitoring ETF approvals, whale activity, and geopolitical tensions will be critical to navigating this transformative phase.