Employees of the cryptocurrency company Galaxy Digital have lowered their Bitcoin price forecast for 2025.
The firm’s head of research, Alex Thorne, reported that the firm’s staff was forced to change their BTC price estimate due to the bearish trend raging in the market. Previously, they believed Bitcoin would reach $185,000 by the end of 2025, but now experts are taking a more conservative stance, predicting the coin’s price will only rise to $120,000.
Currently, BTC is worth $103,132, meaning if the analysts are right, the cryptocurrency’s price will increase by 16% from its current value.
The main reasons for the forecast revision were:
- The sale of large quantities of Bitcoin by people who have held the coins for a long time.
- BTC competitors include gold and stocks of leading technology companies.
- Reluctance of private investors to buy Bitcoin at a high price;
- Lack of investment in cryptocurrency from the US and other governments.
Alex Thorne
Nevertheless, Thorne emphasized that he remains optimistic and is in no way condemning BTC. As before, he believes in the coin’s long-term growth and is confident of a market reversal soon, attributing his stance to the influx of institutional investment into Bitcoin.