This week, Bitcoin (BTC) broke a new record by rising above $126,000, but then retreated to $121,000.
However, while this pullback did not affect the bullish expectations for BTC, a new bullish prediction came.
According to the local news agency Tass, VTB Bank, one of Russia's leading banks, has made a $250,000 estimate for BTC.
Accordingly, VTB Bank analysts predicted that Bitcoin could rise to the $200,000 to $250,000 range in the medium term.
The bank's prediction came after Bitcoin broke a new ATH by surpassing $126,000 this week.
VTB Investment Advisor Artyom Markin stated that they think the rise in Bitcoin is not over and predicted $150,000 in the short term and $200,000‑250,000 in the medium term.
“Bitcoin broke a new record high, exceeding $126,000. We believe the growth is not over yet.
A rise in Bitcoin can be expected to $150,000 in the near term and $200,000‑250,000 in the medium term.
Finally, Martin pointed out that Bitcoin's supply is limited, saying, “The majority of Bitcoins have already been mined. This naturally restricts the supply and means demand continues to increase. This supports the rise in the BTC price.”
*This is not investment advice.