Analyst: Bitcoin could reach $250,000 this year

Odaily Planet News - Cryptocurrency analyst and host of the podcast "The Wolf of All Streets" Scott Melker stated that Bitcoin (BTC) reaching $250,000 by 2025 is "entirely possible". He pointed out that the continuous influx of institutional investors and the decline in market volatility are key factors driving price increases. Scott Melker emphasized that as traditional financial institutions such as pension funds and ETF issuers participate, the Bitcoin market is becoming more mature and stable, with its volatility dropping from three times that of the S&P 500 index to less than twice. Additionally, Scott Melker mentioned that Coinbase's inclusion in the top 50 of the S&P 500 index, listing plans by companies like Galaxy Digital and eToro, and improvements in the U.S. regulatory environment all provide strong support for the crypto market. Although most analysts predict Bitcoin's peak in this cycle will be between $120,000 and $150,000, Melker believes that considering Bitcoin's rise from $3,000 to $69,000 in 2020, a 2.5-fold increase from the current price is not impossible. Furthermore, Ethereum's recent gains outpacing Bitcoin and driving up small-cap tokens indicate "new funds" entering the market, rather than just rotating among existing assets. (Cointelegraph)