LIVE MARKETS-Analyst sees bitcoin over $200,000 by end of 2025
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ANALYST SEES BITCOIN OVER $200,000 BY END OF 2025
As bitcoin flirts with the $100,000 mark, H.C. Wainwright expects the world's largest digital currency to more than double by the end of this year.
The brokerage on Monday raised its 2025 target for bitcoin BTC= to $225,000 from $145,000 previously, estimating it would hit a total market cap of $4.5 trillion, represent ~25% of the total market value of gold.
"2024 set the stage for what we believe will be a significant bull market for BTC and the miners in 2025," Mike Colonnese, senior crypto and blockchain analyst at H.C. Wainwright said in a note.
Colonnese backs his bullish thesis on expectations for a more favorable U.S. regulatory environment under the new administration, the availability of spot ETF products in the U.S., and accelerating institutional investor and corporate adoption.
The brokerage also has an upbeat view on shares of bitcoin miners, which closely track the asset's price, and forecasts the total market cap of the group to exceed $100 billion in 2025 "as fundamentals continue to improve alongside rising BTC prices."
Meanwhile, Citigroup said 2025 could be "alt-season" where cryptocurrencies other than bitcoin gain traction provided there is more clarity on broader U.S. digital asset regulation.
Bitcoin was last at $99,555, having gained 8.5% since 2025 kicked off after more than doubling in value last year.]
On Monday, Bernstein projected bitcoin will rise to $200,000 by the end of 2025.
(Medha Singh)
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