Expert explains why he's sticking to his $210,000 bitcoin call
CNBC · 2 months ago
CNBC
2 months ago
Peter Chung, Head of Research at Presto Research, says there are signs of liquidity loosening happening in the next few months that will help power the bitcoin prices higher.
Breakdown
- Peter Chung is maintaining his $210,000 bitcoin price target despite slower-than-expected appreciation. 6s
- He expects liquidity conditions to improve due to policy changes, Fed comments, and banking regulation adjustments. 43s
- Chung notes strong global demand for altcoin ETFs, such as Solana, driven by investor desire for diversification. 1m 34s
- He describes bitcoin as a store of value and stablecoins as infrastructure for global dollar access. 3m 10s
- Chung believes stablecoins help promote the global acceptance and dominance of the U.S. dollar. 5m 5s