Bitcoin is again in rally mode and has recently notched another all-time high. So it’s not surprising that more upside forecasts on the largest cryptocurrency are emerging.
Sure, some of these forecasts may not hold water. But if some of the more audacious bitcoin prognostications prove anywhere close to accurate, the Coinshares Valkyrie Bitcoin Fund (BRRR ) will be among the ETF beneficiaries.
As of late Thursday, the digital currency traded around $121,650 amid a pullback from the aforementioned highs. But some recent price forecasts suggest a run to $150,000 to $160,000 could occur before the end of 2025. Either of those figures represent significant appreciation from current levels and a likely spark for ETFs like BRRR. But those forecasts appear restrained to others.
Bitcoin to $250,000?
Bitcoin is not legal in Russia. But VTB Bank, the country’s second-largest financial institution, is overtly bullish on the digital currency.
“The rate set a new historic maximum literally yesterday, having moved above [$125,000. And] according to our estimates, the growth potential is far from being depleted,” said VTB investment advisor Artyom Markin at a recent cryptocurrency conference put on by the bank. “The move to $150,000 can be expected in the near term, and up to $200,000 – 250,000 per Bitcoin in the medium term.”
There’s fluidity in defining “medium term,” but it can be measured in months, not years. That means even if the low end of VTB’s projection is accurate, bitcoin and BRRR could generate significant upside in the months ahead.
VTB’s Markin points to familiar catalysts: ongoing demand for bitcoin against the backdrop of fixed, limited supply. Interestingly, he’s not the only Russian that’s bullish on bitcoin.
“Pavel Durov, founder of the popular messenger Telegram, recently shared his belief that Bitcoin will eventually hit $1 million, citing the same reasons. A Russian financial analyst later agreed that this could happen in the next 5 to 10 years,” reported Lubomir Tassev for Cryptopolitan.
One of the foremost cryptocurrency expert Arthur Hayes said in an October 9 blog post that bitcoin’s historical four-year cycle is likely a thing of the past. He also noted traders wishing to apply this time around may be doing so at that their peril.
“Listen to our monetary masters in Washington and Beijing,” Hayes opined. “They clearly state that money shall be cheaper and more plentiful. Therefore, bitcoin continues to rise in anticipation of this highly probable future."
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