Bitwise Asset Management European head Bradley Duke talked with Proactive's Stephen Gunnion about Bitcoin’s recent milestone, reaching $100,000, and the dynamics driving its price. Duke noted that while the cryptocurrency briefly crossed the mark, investor profit-taking brought it back below. Highlighting November’s 36% price increase, he attributed the rise to strong demand fueled by US Bitcoin ETFs and declining liquidity in the market.
Duke emphasised, “Because of the supply and demand dynamics, this is really just the beginning.” Bitwise predicts Bitcoin could reach $200,000 by 2025, supported by growing adoption and a supply-demand imbalance.
The conversation also touched on altcoins, with Duke mentioning XRP’s recent 5x growth and innovations like Aptos. He described the current environment as “everything season,” where both Bitcoin and altcoins are on the rise. However, Duke acknowledged headwinds, including the strengthening US dollar, which may impact Bitcoin’s momentum.