Analyst: Bitcoin may surpass $200000 by the end of the year, with a 'fair value' of $230000

BlockBeats news, on June 11th, according to Cointelegraph, the current price of Bitcoin is $109601. Bitwise researchers Andr é Dragosch and Ayush Tripathi said they are expected to break through $200000 by the end of the year and ultimately reach their estimated "fair value" of $230000. In their weekly cryptocurrency market outlook, Dragosch and Tripathi pointed out that the soaring US federal debt, mandatory spending exceeding revenue, and Trump's proposed "Beautiful Big Bill" tax cut plan are key factors in their bullish view of Bitcoin. The Congressional Budget Office (CBO) predicts that net interest expenses will increase to $3 trillion by 2030, raising concerns in the market about a US sovereign default. Bitwise analysts state that "Bitcoin's scarcity and risk resistance put it in a unique advantageous position in an environment of fiscal instability and improved market sentiment." If these trends continue, Bitcoin is expected to break price expectations by the end of the year.