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It's been nearly a fortnight since Bitcoin hit the all-time high (ATH) of $124,457.12 on Aug. 14. Most crypto experts believe that the cryptocurrency is yet to achieve its full potential and have offered extremely bullish price predictions so far.
Whether it's the crypto index fund manager Bitwise’s CIO Matt Hougan or the Bitcoin mining firm Bitdeer's (Nasdaq: BTDR) Head of Capital Markets and Strategic Initiatives Jeff LaBerge, each expert thinks Bitcoin will hit $200,000 in 2025. It doesn't seem like a herculean task, given the fact that BTC has surged 80% within a year.
However, not everyone seems to be in agreement.
$200K target 'extremely difficult'
It will be "extremely difficult" for Bitcoin to reach anything close to $200,000 this year, the analysts at 10x Research wrote in a report on Aug. 26.
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The analysts said the gap between expectations and insights from data is widening, and the following factors are in play:
54% chance of Bitcoin hitting $140K
It is obvious that 10x Research analysts are not as bullish as other prominent analysts on Bitcoin. However, they estimated that Bitcoin hitting $140,000 by the end of the year also carries only a 54% probability.
Though the above target is only 12% lower than the king coin's record high and 25% lower than its current price, the analysts at 10x Research aren't certain.
Launched in 2009, Bitcoin is the world's largest cryptocurrency, which has a market cap of $2.23 trillion, even surpassing that of the tech giant Meta Platforms (Nasdaq: META).
This article has been published in thestreet.com via Yahoo News.
