Presto Exec Peter Chung Reveals Bitcoin Price Target For 2025



Presto Exec Peter Chung Reveals Bitcoin Price Target For 2025

Presto govt Peter Chung has reaffirmed the bullish stance of his firm on Bitcoin worth. Chung, in a current CNBC interview, stated that they didn’t alter their market view.

The worth forecast comes as Chung known as a “wholesome correction” within the crypto market. He instructed that the current pullback has “paved the best way for the additional rewriting of Bitcoin as a mainstream asset.” His indication is that the non permanent setback might strengthen Bitcoin’s positioning within the monetary ecosystem.

Peter Chung maintains his Bitcoin worth goal

Chung maintained a Bitcoin worth goal of $210,000 for 2025 regardless of current market volatility. “So Bitcoin goal worth stays $210,000 and pushed by institutional adoption and international liquidity growth,” Chung said within the interview.

He supplied insights into Bitcoin’s market conduct and described it as having “two faces.” These are functioning as each digital gold and a risk-on asset relying on market situations. Chung clarified that Bitcoin usually acts as a risk-on asset underneath common market occasions. It is because its worth is sourced from “person adoption and community impact, very very like an web firm.”

However Chung famous that Bitcoin shows gold-like traits underneath sure disaster conditions, particularly “when the market has considerations relating to the steadiness of the US dollar-dominated monetary system.” He cited a number of historic examples the place this sample emerged. This contains the Russian invasion of Ukraine in early 2022, the Silicon Valley Financial institution collapse in early 2023, and most just lately, within the aftermath of the “Liberation Day” tariff bulletins.

“It was throughout a disaster that the Bitcoin behaves like gold as a result of it’s designed after the bodily gold when it comes to digital shortage and so forth,” Chung said. This twin nature helps clarify Bitcoin’s current worth motion throughout April’s market volatility, in response to Chung. “Bitcoin is simply doing what it does, which is usually it acts like a risk-on asset more often than not. However through the disaster, it acts like gold. And that’s what we noticed within the month of April.”

Chung views the market correction as wholesome

Whereas acknowledging that macro occasions haven’t occurred as anticipated, Chung talked about the current market pullback as in the end useful for Bitcoin’s long-term prospects. “In hindsight, I believe it was really a wholesome correction, which have paved the best way for the additional rewriting of the Bitcoin as a mainstream asset,” he said through the interview.

This angle means that Presto’s evaluation views non permanent worth declines as alternatives for market contributors to reassess Bitcoin’s elementary worth proposition and position inside funding portfolios. Chung talked about that his staff has been targeted on deciding whether or not the current volatility revealed any structural points in crypto markets.

The feedback from Chung come as MicroStrategy has bagged 15,355 Bitcoin for $1.42 billion. These acquisitions from giant companies can assist drive the worth of Bitcoin greater in the long run.

As per the newest knowledge, the Bitcoin price is buying and selling at $93,000 at press time.

The put up Presto Exec Peter Chung Reveals Bitcoin Price Target For 2025 appeared first on CoinGape.



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