Bitcoin To Hit $250k By July: Analyst Commentary

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Bitcoin To Hit $250k By July: Analyst Commentary
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With Bitcoin hitting a record high over the weekend, topping $60k for the first time, Jesse Cohen, senior analyst at Investing.com, predicts the crytocurrency to hit $250K by July.

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Bitcoin Prices May Peak At Around $250k Mark By July

"It’s been a blockbuster year so far for Bitcoin, whose gains have left other assets in the dust. Bitcoin has seen its price more than double already through the first three months of the year thanks to growing acceptance and soaring demand from some of the world's biggest companies. 

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"We expect strong institutional demand to continue in months ahead, eventually driving Bitcoin prices to above the $100,000-level, with prices peaking at around the $250K mark by July.

"However, as Bitcoin moves into the mainstream and captures greater attention, it will likely draw further scrutiny from regulators in the United States and Asia. Incoming Treasury Secretary Janet Yellen in the past has warned investors over Bitcoin during her time as Fed Chair, calling it a highly speculative asset and not a stable store of value.

"Indeed, the potential for more scrutiny and tighter regulation remains the biggest headwind for Bitcoin in the future."

For more information, prices and charts on Bitcoin, please see here: https://investing.com/crypto/bitcoin

And for information on all 4,583 cryptocurrencies listed on our platform, please see here: https://investing.com/crypto/currencies

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Jacob Wolinsky is the founder of ValueWalk.com, a popular value investing and hedge fund focused investment website. Jacob worked as an equity analyst first at a micro-cap focused private equity firm, followed by a stint at a smid cap focused research shop. Jacob lives with his wife and four kids in Passaic NJ. - Email: jacob(at)www.valuewalk.com - Twitter username: JacobWolinsky - Full Disclosure: I do not purchase any equities anymore to avoid even the appearance of a conflict of interest and because at times I may receive grey areas of insider information. I have a few existing holdings from years ago, but I have sold off most of the equities and now only purchase mutual funds and some ETFs. I also own a few grams of Gold and Silver
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