Bitcoin Could Soon Double, Said Russian Bank

Core Insights - Bitcoin has reached another all-time high, prompting more bullish forecasts for its price, with potential beneficiaries including the Coinshares Valkyrie Bitcoin Fund (BRRR) [1][2] - Current trading price of Bitcoin is around $121,650, with forecasts suggesting it could rise to between $150,000 and $160,000 by the end of 2025, indicating significant appreciation potential [2] - VTB Bank's investment advisor predicts Bitcoin could reach $150,000 in the near term and $200,000 to $250,000 in the medium term, suggesting a timeframe of months rather than years for these projections [4] Market Sentiment - VTB Bank is notably bullish on Bitcoin despite its legal status in Russia, with their investment advisor highlighting ongoing demand against a backdrop of limited supply as a key driver [3][5] - Pavel Durov, founder of Telegram, also expressed a belief that Bitcoin could eventually reach $1 million, supported by similar reasoning regarding demand and supply dynamics [5] Expert Opinions - Cryptocurrency expert Arthur Hayes suggests that Bitcoin's historical four-year cycle may no longer apply, indicating that current monetary policies in major economies are likely to support Bitcoin's price increase [6]