News

B itcoin 's record-breaking spree continued for the second day as it reached a new all-time high (ATH) of $111,970.17 on May 22.

Now that the cryptocurrency has succeeded in getting over the four-month lull, experts are weighing in on how soon BTC will reach the much-coveted price target of $200,000.

Leading crypto analyst Michaël van de Poppe is even more bullish and believes that Bitcoin will reach a new ATH of $500,000, and that too, faster than he expected — all due to the devaluation of the U.S. dollar.

"$120,000 is imminent. $150,000 is imminent. $200,000 is imminent." Poppe opined on X .

The U.S. dollar index (DXY), which measures the value of the U.S. dollar relative to a basket of foreign currencies, was quoting at 100.04 at the time of writing.

In fact, the index has been struggling to keep afloat the 100 level since President Donald Trump initiated the tariff war , primarily against China, on Apr. 2. The international rating agency Moody's downgrading the U.S. government rating from AAA to AA1 on May 16 also had an adverse effect on the already weakening dollar.

Poppe's projection isn't unique. Even Standard Chartered has predicted that Bitcoin will reach $200,000 by the end of 2025.

It will reach $300,000 by the end of 2026, $400,000 by the end of 2027, and $500,000 by the end of 2028, the banking giant said.

However, Poppe added that people won't buy Bitcoin due to its high price and will opt for altcoins during this period.

Top analyst says Bitcoin rally 'imminent' due to dollar devaluation first appeared on TheStreet on May 22, 2025