Analyst: Bitcoin could reach $250,000 this year

Odaily News Scott Melker, a cryptocurrency analyst and host of the podcast "The Wolf of All Streets", said that it is "entirely possible" for Bitcoin (BTC) to rise to $250,000 in 2025. He pointed out that the continued influx of institutional investors and the decline in market volatility are key factors driving price increases. Scott Melker emphasized that with the participation of traditional financial institutions such as pension funds and ETF issuers, the Bitcoin market is becoming more mature and stable, and Bitcoin's volatility has dropped from three times that of the S&P 500 index in the past to less than two times.
In addition, Scott Melker also mentioned that Coinbase was included in the top 50 of the S&P 500 index, companies such as Galaxy Digital and eToro promoted their listing plans, and the improvement of the US regulatory environment, all of which provided strong support for the crypto market. Although most analysts predict that the high point of Bitcoin in this cycle will be between $120,000 and $150,000, Melker believes that considering that Bitcoin rose from $3,000 to $69,000 in 2020, it is not impossible for the current price to rise by 2.5 times. In addition, Ethereum has recently risen more than Bitcoin, driving up small-cap tokens, indicating that "new funds" are flowing into the market, rather than just rotating between existing assets. (Cointelegraph)