Bitcoin’s Rocket to $200K? Presto’s Crystal Ball is Dusty but Still Rolling!

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Peter Chung, the big brain in charge of research at Presto, strutted onto CNBC’s “Squawk Box Asia” and declared that Bitcoin’s price target for 2025 is $210,000. That’s right—still the same number, like a bad punchline that just won’t quit. 💸

Why the bullish fanfare? According to Chung, it’s all thanks to strong institutional demand and the global liquidity pool expanding faster than my waistline during quarantine snacks. 🍩🌎

Just today, Bitcoin strutted back over the $95,000 line—like it was sneaking back into the party after the biggest ETF inflows of the year. Who knew ETFs had that much pull? Investors be like, “Show me the money!” 💰

Over at U.Today, Bitwise CEO Hunter Horsley chimed in, noting that the recent Bitcoin comeback was mostly thanks to institutional investors throwing their weight around, while retail investors are just sitting on the sidelines, probably refreshing their crypto meme pages.🛋️📱

Chung calls the recent dip a “healthy correction”—which sounds about as reassuring as “just a little malaria.” Apparently, Bitcoin has started acting like gold, surviving the tariff-driven economic chaos like a champ in a chaos-themed gladiator arena. 🏛️⚔️

ETH/BTC: The comeback kid? Or just another soap opera subplot?

In December, Presto predicted the ETH/BTC ratio would bounce back to 0.05. But instead, the ratio’s currently limping at 0.019, like a hangover after too much digital tequila. Still, Chung clings to hope, saying the community is hustling to fix this “value leakage” problem—sounds like trying to plug a leaky faucet with a donut. 🍩🔧

The other maybe-maybe-not Predictions from Presto

Back in December, Presco also said Solana might shoot up to $1,000—because why not dream big? Plus, they forecasted an S&P 500 company would stash Bitcoin as a treasury reserve asset. Spoiler alert: neither looks likely this year, but hey, optimism is the yeast that makes crypto bread rise, right? 🥖🚀

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2025-04-28 17:08