Bit Mining Predicts Bitcoin Will Rise to $180,000 to $190,000 This Year, May Fall to $80,000 if Black Swan Hits
On Jan. 1, Bit Mining's chief economist Youwei Yang reportedly predicted that the price of bitcoin will reach between $180,000 and $190,000 by 2025, but he was also cautious about a possible price pullback.
Bitcoin's price could see significant upward momentum in 2025, but occasionally there will be significant pullbacks,” Yang said. During periods of market turbulence, such as a sharp drop in the stock market, Bitcoin could temporarily fall to around $80,000,” Yang said. However, the overall trend is expected to remain bullish. Based on these dynamics, I predict that Bitcoin's price could peak at $180,000 to $190,000 in 2025, in line with historical cycles and the mainstream adoption of cryptocurrencies as they grow in popularity.”
That said, Young also expects some 'correction' in the price of bitcoin next year as well. Downside risks include U.S.-China tensions, global capital market disruptions, potential unexpected restrictions, and a possible delay in the Federal Reserve's rate-cutting cycle.
Last year, Yang predicted that Bitcoin would reach $75,000 by 2024.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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