According to Cointelegraph, Charles Edwards, founder of Capriole Investments, stated at Token2049 in Singapore that investors are flocking to safe-haven assets alongside gold, and Bitcoin is expected to reach a historic high of $150,000 by the end of 2025.
Edwards mentioned in an interview that Bitcoin's return above the important threshold of $120,000 could "very quickly" break through to a new high of $150,000. "If we break through the $120,000 range, the price is likely to rise to $150,000 in a very short time, possibly even within the next few days."
Cointelegraph data shows that Bitcoin has risen over 6% in the past week. This is the first time it has returned above $118,500 since August 15.
Edwards' views are more conservative compared to some analysts who believe this cycle could push Bitcoin above $200,000.
According to Cointelegraph, André Dragosch, head of European research at Bitwise Asset Management, stated that the U.S. 401(k) retirement plans allowing allocations to crypto assets could release an additional $122 billion in funds. He pointed out that even if retirement management institutions allocate just 1% of their funds to crypto assets, it would be enough to push Bitcoin above $200,000 by the end of the year.
Edwards also predicted that there is a "slightly above 50%" chance of a three-month positive rally in the crypto market before the end of the year. He stated that the market's four-year cycle theory remains relevant and could be "self-fulfilling," as investors reduce risk based on cyclical expectations.
"But ultimately, the driving force is institutional buying, and if that changes, my view will be very different," he said.
Edwards' predictions align with the historical trend of Bitcoin's strong performance in the last three months of the year.
CoinGlass data shows that Bitcoin's historical average monthly returns in October, November, and December are approximately 20%, 46%, and 4%, respectively.
Additionally, according to recent reports from Cointelegraph, other analysts have pointed out that technical chart patterns, including the forming golden cross, could drive Bitcoin to reach a target price of around $150,000 in the fourth quarter of this year.
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Original article: “Charles Edwards says Bitcoin (BTC) will 'quickly' surge to $150,000 after breaking $120,000”
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