CK Zheng, founder of cryptocurrency hedge fund ZX Squared Capital, said that Bitcoin (BTC) could reach $125,000 by the end of the year, but other cryptocurrencies may perform better. Although the US tariffs on Mexico and Canada appear to have taken effect, Zheng does not expect Bitcoin to fall below $75,000. "The market is volatile in the short term, but for long-term investors, this is a good opportunity to allocate Bitcoin," he said.
"There is a correlation between bitcoin and counterfeit products, but I think bitcoin's market dominance will decline," Zheng said in an interview with CoinDesk. "If you want the crypto ecosystem to really grow, you can't have 60 per cent of the market value concentrated in bitcoin."
Zheng believes: "New policies and regulations will drive a lot of innovative ideas and shake up the cryptocurrency industry. Although this may take some time to manifest - possibly through 2025 and 2026." ZX Squared Capital is bullish on cryptocurrencies such as Ethereum (ETH) and Solana (SOL), believing they will benefit from a new wave of innovation, especially projects that combine artificial intelligence and cryptocurrencies. Zheng emphasizes that these smart contract blockchains need to continuously increase throughput in order to remain attractive (for Solana) or regain the initiative (for Ethereum).
Analysis: Bitcoin may reach $125,000 by the end of the year, and counterfeit products may perform better
2025-03-05 22:34:14
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