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Leading cryptocurrency Bitcoin (BTC) broke a new record, exceeding $126,000 for the first time since August, due to the start of October and the impact of the US government shutdown.
However, this rise was short-lived and the BTC price dropped to $121,000 in the evening hours.
While bullish expectations continue for Bitcoin, which has recovered to $122,000 today, British giant CF Benchmarks stated that they expect BTC to reach $148,500 by the end of the year.
According to DLNews, crypto benchmark index provider CF Benchmarks said in its latest report that the cryptocurrency market is poised to enter a mature and bullish phase amidst increased regulatory clarity and the favorable environment of interest rate cuts.
Stating that the crypto market is becoming increasingly mature, CF Benchmarks analysts predicted that Bitcoin could rise by another 20% to $148,500 by the end of the year.
The company attributed this potential growth to several factors, including Bitcoin’s role as a hedge against macroeconomic uncertainty and fiat devaluation.
The firm said other catalysts for the BTC rally include a positive shift in regulatory policy under a second Trump administration, greater regulatory clarity, and increased institutional adoption.
Analysts added that the rise was also supported by the Fed’s latest rate cut, the first in nine months, which created a more positive environment for risk assets.
Analysts also added in the report that the number of spot ETFs is expected to double to 80 and the circulating size of stablecoins is expected to reach $500 billion.
Analysts recently noted that they expect the tokenized real-world assets (RWA) market to more than double from its current $40 billion size in the next 12 months, with Solana-based xStocks leading the early adoption.
*This is not investment advice.
