A widely followed crypto analyst predicts that in 2025 Bitcoin It reveals the upper bounds of the price target for (BTC).
The host of InvestAnswers tells 447,000 YouTube subscribers in a new YouTube video that the price target for BTC is largely driven by on-chain supply, the future of spot BTC exchange-traded funds (ETFs) in the US, and the best crypto- says its existence depends on many factors, including its general adoption.
The presenter also notes that Bitcoin’s long-term holder supply has reached an all-time high.
This is crazy. People are not selling.
NEWS CONTINUES BELOW
The analyst believes Bitcoin could reach $89,000 in 2025, but sees a “maximum upside” for BTC at $142,000.
The InvestAnswers host notes that price targets would be lower if the U.S. Securities and Exchange Commission (SEC) decides not to approve a spot Bitcoin ETF. However, the analyst says “things could get out of hand” if the SEC greenlights a spot-based Bitcoin ETF.
The SEC released a series of spotlights last week. BTC ETF has delayed decisions on its application, but the regulator is likely to rule on some of them by early 2024.
BTC is trading at $27,528 at the time of writing this news. The top-ranked crypto asset by market cap is down 1.2% in the last 24 hours but is up nearly 66% since the beginning of 2023. However, despite this year’s price gains, Bitcoin is still down more than 60% from its all-time high of $69,000 reached in November 2021.