A widely followed crypto analyst is laying out the upper bounds of his price target for Bitcoin (BTC) in 2025.
In a new YouTube video, the anonymous host of InvestAnswers tells his 447,000 YouTube subscribers that his price target for Bitcoin is heavily dependent on multiple factors, including on-chain supply, the future of spot BTC exchange-traded funds (ETFs) in the US and the overall adoption of the top crypto asset.
[adinserter block="1"]The host also notes that Bitcoin’s long-term holder supply has reached a new all-time high.
“It is insane. People are not selling.”
The analyst believes Bitcoin could hit $89,000 sometime in 2025, though he thinks BTC has a “max upside” of $142,000.
The InvestAnswers host notes that his price targets will be lower if the U.S. Securities and Exchange Commission (SEC) decides against approving a spot Bitcoin ETF. However, the analyst says that “things could go crazy” if the SEC green-lights a spot-based Bitcoin ETF.
The SEC delayed decisions on a slew of spot BTC ETF applications last week, though the regulator will likely rule on a number of them by early 2024.
BTC is trading at $27,528 at time of writing. The top-ranked crypto asset by market cap is down 1.2% in the past 24 hours but remains up by nearly 66% since the beginning of 2023. However, despite its price gains this year, Bitcoin is still more than 60% down from its all-time high of $69,000, which it hit in November 2021.
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