Analysts at a global asset management firm bernstein have revised their old bitcoin target to $200,000, anticipating the influx of Spot bitcoin ETF Inflows catalyzing this massive price increase.
Bernstein Analysts Raise bitcoin Target to $200,000
In a note to clients, Bernstein analysts Gautam Chhugani and Mahika Sapra predicted that bitcoin could reach $200,000 by the end of 2025. This new price target comes after analysts predicted that btc would reach $150,000 beginnings of May. At the time, analysts revealed that they were anticipating around $70 billion in Spot bitcoin ETF Inflows between 2024 and 2025.
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Currently, analysts have solidified their predictions, reiterating that bitcoin Spot ETFs would be the trigger that would drive the price of bitcoin to $200,000 next year. Analysts have estimated that btc Spot ETF could grow in demand until it represents around 7% of the total btc in circulation.
They revealed their expectations for bitcoin spot ETFs. bitcoin-etfs-record-inflows/” rel=”nofollow”>grow significantly in adoptionhighlighting the possibilities of approvals from the main cable manufacturers and large bitcoin-etfs/” rel=”nofollow”>private banking platforms in the third and fourth quarters. The analysts also revealed that almost 80% of bitcoin Spot ETF inflows are generated by self-directed funds. bitcoin-spot-etfs-acquires-25729-btc-in-a-week/” rel=”nofollow”>retail investors who invest through brokerage platforms.
They believe that institutional investor demand for Spot btc ETFs is still in its early stages. However, as the market continues to evolve crypto-bank-of-america-now-offer-bitcoin-etfs/” rel=”nofollow”>interest of institutional investors could rise, greatly increasing current inflows into spot bitcoin ETFs.
Bernstein analysts wrote in their notes to clients that currently the combined ETFs have brought in about $15 billion of net new flows. Accumulated inflows into bitcoin Spot ETF according to far side datahave reached $14.66 billion since their launch on January 11.
Due to high demand and huge capital invested in this asset class, analysts expect bitcoin Spot ETFs to be equivalent to 7% of the btc Circulating Supply by 2025 and 15% by 2033. They also anticipate that Spot bitcoin ETF's total assets under management (AuM) will reach $190 billion by '25E market peak and a whopping $3 trillion by 2033.
This bullish prediction underlines the analyst's confidence in Spot btc ETFs, despite it being a newly discovered asset class. In less than six months, the total assets under management of bitcoin Spot ETFs have increased. bitcoin#:~:text=Spot%20Bitcoin%20ETFs&text=With%2034%20ETFs%20traded%20on,Currency” rel=”nofollow”>grown up to $59.19 billion, with an average expense ratio of 1.07%. This enormous growth has been led by leading asset management companies such as btc-bet-as-spot-bitcoin-etf-aum-barrels-past-21-billion/” rel=”nofollow”>Black RockFidelity and others.
btc price enters a new bullish cycle
In their note, Bernstein analysts also stated that btc has officially entered a new bull market cycle. Analysts revealed that this bullish cycle It is currently driven by the recent bitcoin-halving-2024-complete-what-expect/” rel=”nofollow”>bitcoin Halving Event, which took place on April 20.
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They foresee the rise of bitcoin-price/” rel=”nofollow”>new catalysts That could trigger a surge in demand for btc, driving its price to new levels. On the contrary, the cryptanalyst Michael van de Poppe has x.com/cryptomichnl/status/1803737917078052941?s=46″ rel=”nofollow”>foretold that btc has likely bottomed between the $63,000 and $65,000 price range.
At the time of writing, the cryptocurrency is trading at $63,865, reflecting a weekly drop of 4.76%. Poppe has suggested a bitcoin-price-prediction-new-all-time-highs-possible-soon/” rel=”nofollow”>potential reversal on the horizon, predicting that bitcoin could find itself in upward momentum soon.
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