Nigel Green, CEO of DeVere Group, a prominent financial advisory firm, predicts its value could reach $150,000 by mid-2025. This prediction follows the cryptocurrency's recent surge above $100,000, a milestone it reached for the first time last week.
According to Green, Bitcoin has risen an impressive 134% since the beginning of the year, and he expects this upward trend to continue. He previously predicted that Bitcoin would rise to $120,000 after President Donald Trump's inauguration, but now the price has declined due to growing investor fear of missing out (FOMO) and an increase in institutional investors. I think the price could rise further.
Green attributes the resurgence of the crypto market to the dual momentum of investor FOMO and institutional investors, which is establishing Bitcoin as a key asset in investment portfolios. He explains that when Bitcoin reaches new heights, there is a snowball effect as investors looking to capitalize on profits drive up the price and attract more participants to the market.
Over the past year, the heavy involvement of financial institutions through direct ownership, exchange-traded funds (ETFs), and partnerships with crypto-focused companies is seen as a game-changer for Bitcoin. This institutional commitment not only injects liquidity into the market, but also provides credibility and strengthens the confidence of retail investors.
Green also points to persistent inflation and increasing geopolitical uncertainty as factors that strengthen Bitcoin's appeal as a safe-haven asset. Bitcoin is seen as a potential store of value as traditional investments struggle to keep up with inflation. Furthermore, global political instability has led investors to seek alternatives to traditional assets, making Bitcoin even more attractive.
The Trump administration has shown support for digital assets by appointing a new SEC chairman known for his progressive stance on cryptocurrencies. This move is expected to foster regulatory clarity and strengthen investor confidence in the cryptocurrency space.
Despite the optimistic outlook, Green cautioned that the path to $150,000 will not be without challenges, including a brief pullback as investors take profits. He points out that these market corrections are a natural part of the market cycle and contribute to stronger and more sustainable growth.
Greene's revised forecast underscores his confidence in Bitcoin's future, citing Trump's presidency, the crypto currency's They cited a supportive SEC chairman, growing institutional and retail demand, persistent inflation, and geopolitical uncertainty.
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