Crypto Market’s ‘Monster Cycle’: $7.5 Trillion Market Value By 2025, Bitcoin Targets $150,000
2024年3月15日 - 8:30AM
NEWSBTC
In a recent Bloomberg report, it has been revealed that the market
value of crypto assets is expected to witness a remarkable surge,
nearly tripling to $7.5 trillion by 2025. Wall Street Firm
Predicts “Monster Of A Crypto Cycle” The next few years are likely
to usher in a “monster of a crypto cycle,” according to Wall Street
research firm Bernstein. In addition, Bernstein analysts have an
“outperform” rating on the stock as they initiate coverage of
online brokerage Robinhood Markets. Analyst Gautam Chhugani
believes investors should take advantage of the opportunity to ride
the “crypto comeback arc,” envisioning a “ninefold increase” in
Robinhood’s crypto trading volume over the next two years. Related
Reading: Classic Minerals And AuResources Drive Blockchain-Backed
Funding For Gold Mining Ventures Chhugani expressed his confidence
in Robinhood’s prospects, stating that now is the opportune time to
enter the market with an 18-24 month window to capitalize on the
crypto resurgence. Assigning a price target of $30 to the stock,
Chhugani’s price target is currently the highest among analysts
tracked by Bloomberg. Following the publication of positive
February operating data, which included increases in assets under
custody and surging trade volume, Robinhood shares surged as much
as 12% in New York trading, reaching the highest intraday level
since December 2021. So far this year, the stock has gained
over 40%. However, Wall Street remains cautious about its outlook,
with six analysts rating the stock as a buy, ten suggesting a hold,
and three recommending selling. With the anticipated growth of
crypto assets from $2.6 trillion to $7.5 trillion, the largest
digital currency, Bitcoin, is set to become a $3 trillion asset by
2025. According to Chhugani, this surge is expected to be fueled by
the “unprecedented success” of exchange-traded funds (ETFs) tied to
the cryptocurrency. Additionally, Chhugani predicts that
Bitcoin will reach a high of $150,000 next year. He emphasized the
ongoing institutional adoption of cryptocurrencies and expressed
expectations for the continued success of the Bitcoin ETF and the
potential launch of an Ethereum ETF within the next 12 months.
Robinhood Positioned For Success In the context of Robinhood,
Chhugani highlighted the company’s “full suite crypto offering
within a regulated broker platform,” which positions it favorably.
Bloomberg notes that traditional broker platforms, such as Charles
Schwab Corp., have been more hesitant in offering cryptocurrency
services. Summing up his bullish stance, Chhugani stated: In
short, we are bullish on crypto, and we believe Robinhood’s crypto
business resurgence will restore its fortunes with investors. The
projected exponential growth of the cryptocurrency market and the
optimistic outlook for Robinhood’s crypto business have captured
the attention of market observers. With the increasing mainstream
acceptance and institutional adoption of digital assets, the next
few years hold significant potential for investors and market
participants alike. Related Reading: Cardano Ready For Breakout As
Network Adoption Hits Major Milestone Featured image from
Shutterstock, chart from TradingView.com
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