Spot Bitcoin ETFs fuel rally, prompting analysts to increase price targets to $100k-$250k

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“These are still early days of Bitcoin’s integration into traditional asset portfolios,” the analysts said. “We are now more convinced about our $150K price for Bitcoin.” “We expect Bitcoin to enjoy price gains of a similar magnitude as a result of US spot ETF approval, but we see these gains materializing over a shorter period, given our view that the BTC ETF market will develop more quickly,” they said. “This is consistent with our end-2024 view of Bitcoin at the USD 100,000 level.”

Hedge fund SkyBridge Capital predicts that BTC will hit $170,000 by April 2025. "People think we're nuts, and that's fine, but I don't think we're nuts, and that's why we have such a big position," said Anthony Scaramucci, founder and CEO of SkyBridge Capital, while speaking with Yahoo Finance. While speaking with CNBC on Monday, Saylor said they have no intention of selling anytime soon, no matter how high Bitcoin’s price goes, and compared the top crypto to other assets, such as gold, bonds, and real estate, because it is digital and "you can trade it a million times faster than conventional assets."

"We are in unchartered territory," said Matthew Sigel, head of VanEck's digital assets research. Similar to Saylor, VanEck said their “medium-term” target of $350,000 still holds. “In terms of price impact, if we use the previous cycle templates, while assuming a moderation of the cycle -- if the DXY breaks below its rising support line and trades low 90s – $BTC in the $150k-$180k range seems plausible,” Coutts concluded.

CoinCodex also predicted a potential high of $157,327 in 2025 and said its price could hit between $228,047 and $308,078 by 2030.

Source: Digital Coin News (digitalcoinnews.net)

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