CK Chung, former head of global valuation risk at Credit Suisse, said Bitcoin has passed the bottom of its current cycle and could reach $150,000 by the end of 2027.
Chung, now co-founder and CIO of ZX Squared Capital, described the recent correction as part of the cryptocurrency market’s maturation process, unlike the collapses of Terra-Luna, Celsius and FTX in 2022. He said greater institutional participation through ETFs and corporate treasury assets has improved the market’s underlying structure.
He said greater regulatory clarity and the possibility of the CLARITY Act’s passage could serve as catalysts for the next bull market. He also projected that concerns over the declining value of the dollar due to rising U.S. debt could boost demand for gold and Bitcoin, while supply scarcity and expanding adoption could fuel FOMO among institutional investors.