July 1, 2025
Crypto asset manager Bitwise believes that Bitcoin (BTC) is still on track to hit its price target in 2025.
In a new report, Bitwise executives Matt Hougan and Ryan Rasmussen reaffirm their forecast that Bitcoin will reach $200,000 in six months, an increase of over 88% from its current value.
“It has been a mixed year for cryptocurrency prices…
We are optimistic, however, about the prospect of a very strong second half (the second half). Progress in Washington, D.C., regarding cryptocurrency legislation, the growing demand from institutional investors for exposure to cryptocurrencies, and the extreme optimism regarding stablecoins are all coming together to create a favorable environment for gains.
In summary: we are firmly maintaining our BTC forecast at $200,000, as there is a lot of institutional demand for BTC to keep prices stable for a long time.”
Investors also say there are bullish catalysts that could trigger explosive highs for Ethereum (ETH) and Solana (SOL) in the second half of 2025. However, they are not sure if ETH and SOL can reach new all-time highs.
“We are less confident in ETH and SOL, but we expect that the growing interest in stablecoins, ETF approvals (exchange-traded funds), and the emergence of treasury companies for ETH and SOL could substantially raise prices.”
Bitcoin is trading at $105,996 at the time this article was written, a 1.5% drop in the last 24 hours.
Meanwhile, ETH is trading at $2,423 at the time this article was written, a 2% drop on the day, and SOL is trading at $147 at the time this article was written, a 6.8% drop in the last 24 hours.
Analysts also believe that the leading U.S. cryptocurrency exchange, Coinbase, will eventually trade at $700 per share and surpass the total value of Charles Schwab, but it is unlikely to happen this year.
“COIN's stock has performed well, doubling Schwab's market return (44% versus 22% of the traditional broker)…
Schwab's stock has performed slightly better than we expected. As a result, the gap between Coinbase's value ($90 billion) and Schwab's value ($164 billion) is likely too large to be closed by the end of the year.”
COIN is trading at $337 at the time this article was written.
Finally, the executives also remain committed to their forecast that the market value of tokenized real-world assets (RWAs) will exceed $50 billion this year.
“Tokenized RWAs represented a $13 billion market at the beginning of 2025. Today, they are around $25 billion. We believe that adoption will accelerate in the second half.”
