Analysts at private wealth management firm Bernstein reaffirmed their previous bitcoin predictionhighlighting that the cryptocurrency has a greater chance of reaching $150,000 in 2025.
bitcoin's $150,000 Price Forecast Strengthens
Bernstein analysts Gautam Chhugani and Mahika Sapra said in a note to clients on Monday that they were now more convinced of bitcoin's exponential rise to new all-time highs of around $150,000 by mid-2025. reiteration of his bitcoin-to-hit-150k-by-2025-financial-firm/” rel=”nofollow”>Previous bitcoin Forecast in November 2023, when they predicted that the price of bitcoin would rise to $150,000.
At that time, bitcoin was bitcoin-comeback-trading-desks-awaken/” rel=”nofollow”>listing around a price of $35,000, which puts the analyst estimate at around five times the price of btc. Now that btc has recently witnessed notable rises to new all-time highs above $71,000, and potentially continue its bitcoin-primed-for-parabolic-ride-experts-say/” rel=”nofollow”>upward momentumBernstein analysts' forecast seems more likely.
Analysts at the private equity investment firm have revealed several factors that could trigger btc's bullish momentum. Highlighting the success and growing demand for crypto-markets-swell-in-2024-spotlight-bitcoin-etfs/” rel=”nofollow”>Spot bitcoin Exchange Traded Funds (ETFs)The company boldly claimed that a large volume of inflows into spot bitcoin ETFs could significantly contribute to increasing the value of btc.
“We estimate inflows of $10 billion by 2024 and another $60 billion by 2025. In the last 40 trading days since the ETF's launch on January 10, bitcoin ETF inflows have already surpassed $9.5 billion “Bernstein analysts wrote.
Sharing the feeling Of the majority of crypto analysts in the market, Bernstein analysts believe that the bitcoin-peak-december-over-200000/” rel=”nofollow”>btc price You could experience a new “flare” after halving event in April 2024. At the time of writing, the cryptocurrency is trading at $68,218, witnessing a slight price correction of around 6.96% in the last 24 hours, according to CoinMarketCap.
Miners will become the main beneficiaries of the btc surge
In their note, Bernstein analysts highlighted that investing in bitcoin-investment-strategies-shift-with-1-billion-surge/” rel=”nofollow”>bitcoin miners could be the best stock proxy for btc. According to their analysis, btc miners typically outperform during btc Bullish Cycles and, conversely, they underperform during bearish periods.
As bitcoin rapidly rises to all-time highs above $71,000, Bernstein analysts expect institutional interest in bitcoin-related stocks could increase, with bitcoin-miners-enjoy-2nd-highest-daily-revenue-ever/” rel=”nofollow”>btc miners become one of the biggest beneficiaries. Although several analysts predict that the next bitcoin-pre-halving-danger-zone/” rel=”nofollow”>Halving bitcoin could potentially bitcoin-halving-havoc-only-a-few-miners-may-survive/” rel=”nofollow”>become a death sentence for small mining companies and solo miners, Bernstein analysts have revealed that the rising btc price and high transaction fees could serve as a cushioning mechanism for miners during the halving period.
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btc price at $67,700 | Source: BTCUSD on Tradingview.com
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