Bitcoin remains above $65,000, with uncertainty from the US elections weighing on prices.
At this point, while analysts expect an increase in BTC and cryptocurrencies if Donald Trump wins the US elections, Bitwise CIO Matt Hougan stated that he expects Bitcoin to reach $200,000 by 2025.
$200K Prediction for Bitcoin!
In a recent interview with Altcoin Daily, Hougan, who expects Bitcoin to reach a new all-time high by the end of this year, pointed to $200,000 as his target.
The famous name stated that his bullish prediction for Bitcoin stems from three main factors, including the US elections, new investors entering the market, and the long-term impact of spot Bitcoin ETFs.
At this point, Hougan stated that Donald Trump would be positive for Bitcoin and the crypto sector, and argued that Trump or another neutral president would be better than Kamala Harris and would have a positive or at least non-negative effect on Bitcoin.
“The election means uncertainty, so investors are sitting on the sidelines. They realized that even if they waited, crypto would not disappear and the institutional part was also moving towards crypto. But they thought they could wait and delay.
But waiting won't work. Bitcoin and crypto will continue. At this point, if this Bitcoin rally continues and it goes up to $70,000, then it will become a self-fulfilling prophecy. People will realize that they need to get on the train.
This will push the price up even more.”
Stating that Bitcoin ETFs have achieved great success with an inflow of $ 20 billion, Hougan stated that we are still in the early stages and that institutional growth will accelerate and have a positive impact on the price thanks to ETFs.
Ethereum (ETH) May Also Break a Record!
Matt Hougan, who also made statements about Ethereum, stated that Ethereum is currently the best contrarian bet in the crypto market.
Hougan said Ethereum is the cryptocurrency that people “love to hate” and he expects the ETH price to move sideways for the rest of the year.
However, Bitwise CIO stated that he is optimistic about Ethereum in the long term and said that Ethereum continues to be the best platform for DeFi applications, stablecoins, and tokenization.
Hougan finally added that with regulatory and technological developments, Ethereum could break a new record by 2025.
*This is not investment advice.
