By the summer of 2025, digital gold will rise in price to $150,000. Rick Edelman, the founder of Edelman Financial Engines, presented this forecast in an interview with CoinDesk.
According to him, the crypto winter dragged on longer than most investors expected.
The situation is starting to change, and by the summer of 2025, the digital gold rate is able to reach $150,000. The drivers could be the improvement of technology and the likely approval of a spot bitcoin ETF, Edelman explained.
“We are seeing dramatic changes. We get rid of the “bad guys”, “cleansing” the industry”, he said.
The specialist noted the growing interest in the first cryptocurrency from a growing number of institutional players. In this context, he referred to the wave of applications for the launch of exchange-traded funds based on digital gold.
Edelman also mentioned the upcoming April 2024 halving as a factor in the expected price increase, recalling the positive reaction to previous similar events in 2012, 2016 and 2020.
Edelman Financial Engines manages $300 billion in assets.
Earlier, BitMEX co-founder Arthur Hayes allowed for a possible short-term retreat of bitcoin below $20,000, followed by a new bullish momentum.
Recently, the specialist pointed to the positive prospects of the first cryptocurrency contrary to the policy Fed.
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