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The leading cryptocurrency Bitcoin (BTC) has been trading below $100,000 for about the last 10 days.
As uncertainty in BTC continues, one analyst says the chances of Bitcoin rallying to $125,000 by the end of June are increasing.
Dr. Sean Dawson, head of research at on-chain options protocol Derive, said in a recent report that Bitcoin’s chances of reaching $125,000 by the end of June have increased from 41.9% to 44.4%.
While BitMEX co-founder Arthur Hayes expects Bitcoin to drop to the $70,000-$75,000 range before the rally begins, Dawson noted that the probability of BTC falling to $75,000 before June has dropped from 17.8% to 12.1%.
Market analysts like Dawson also expect Bitcoin to rise in 2025. At this point, VanEck analysts predict that the bull market will reach its mid-term peak in the first quarter of 2025, then reach all-time highs towards the end of the year.
VanEck predicts that at the peak of the cycle, Bitcoin will trade around $180,000, while Ethereum (ETH) will trade above $6,000.
Standard Chartered analysts expect Bitcoin to reach $200,000 and Ethereum to reach $10,000 by the end of 2025.
Although Arthur Hayes expects Bitcoin to drop to $70,000-75,000, he expects it to continue its upward trend and rise to $250,000 by the end of the year.
*This is not investment advice.
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