Bitcoin May Be Due for a $72 Billion Turnaround in Late 2027

Bitcoin's current downturn may look concerning for investors, but former Credit Suisse valuation risk chief CK Zheng believes it could be different from the devastating 2022 crypto crash. According to Zheng, who is now co-founder and CIO of ZX Squared Capital, Bitcoin will eventually reach $150,000 by late 2027.

Zheng's bullish outlook is based on the growing participation of institutions, improving regulatory clarity, and concerns about the future value of the U.S. dollar. The current price of around $78,535 leaves Zheng's target nearly 91% above the current level.

The key difference between today's market and the 2022 bear market is the health of the underlying crypto industry. In 2022, corporate failures like Terra/Luna, Celsius, Voyager, and FTX sent shockwaves through the entire industry, creating a crisis of confidence that went beyond Bitcoin's price.

By contrast, Zheng believes today's environment is fundamentally different, citing rapid institutional adoption as a major factor. Institutional participation introduces a new type of buyer that evaluates Bitcoin through portfolio allocation, diversification, liquidity, and macroeconomic risk, rather than retail speculation.