Bitcoin’s price target for 2025 remains $210,000, driven by institutional adoption and global liquidity expansion, Peter Chung doubled down on their earlier prediction in an interview with CNBC on Apr. 28.
Chung is the research head at Presto, a Singapore-based quantitative trading firm established in 2024.
Chung said that the recent market reaction to the macroeconomic conditions, in hindsight, was a healthy correction that paved the way for Bitcoin as a “mainstream asset.”
Comparing gold’s bullish run against Bitcoin’s comparatively modest price action in April so far, Chung proposed that Bitcoin has two faces: digital gold and risk-on asset.
Most of the time, Bitcoin behaves like a risk-on asset because its value is derived from user adoption, similar to an internet company.
But during times of crisis, Bitcoin behaves like gold, as its features are designed to imitate those of bullion like scarcity. However, these moments are rare, happening only when the market doubts the stability of the US dollar-dominated financial system — one recent example being the aftermath of President Donald Trump’s “Liberation Day” tariff announcements.
Trump refers to Apr. 2 as “Liberation Day,” when he imposed tariff hikes globally before pausing them for all except China for 90 days on Apr. 9.
As the traders flocked to gold due to its status as an asset to hedge during crisis, it hit the record high of $3,500 per ounce on Apr. 22.
On the other hand, Bitcoin — often called “digital gold” — lags far behind gold. Though it has been able to exceed the Apr. 2 level of $87,000, it was still trading at $94,343.51 at press time, as per Kraken’s price feed.
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