Bernstein Analysts Convinced Bitcoin Is Headed For $150,000, Here’s Why

2024-3-16 23:30

Analysts from private wealth management firm, Bernstein have reaffirmed their previous Bitcoin prediction, emphasizing that the cryptocurrency has a greater chance to reach $150,000 by 2025. 

Bitcoin $150,000 Price Forecast Grows Stronger

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 surge to new all-time highs at around $150,000 by mid-2025. The analyst’s statements were a reiteration of their earlier Bitcoin forecast in November 2023, when they predicted the price of Bitcoin to surge to $150,000.

At the time, Bitcoin was trading around a price of $35,000, putting the analysts’ estimate at around five times the price of BTC. Now with BTC recently witnessing remarkable surges to new all time highs above $71,000, and potentially continuing its upward momentum, Bernstein analysts’ forecast seems more probable.

Analysts from the private wealth investment firm have disclosed several factors that could trigger BTC’s bullish momentum. Highlighting the success and surging demand for Spot Bitcoin Exchange Traded Funds (ETF), the company boldly affirmed that large volume of inflows into Spot Bitcoin ETFs could significantly contribute towards increasing the value of BTC. 

“We estimated $10 billion inflows for 2024 and another $60 billion for 2025. In the last 40 trading days since the ETF launch on Jan 10, Bitcoin ETF inflows have crossed $9.5 billion already,” Bernstein analysts wrote. 

Sharing the sentiment of most crypto analysts in the market, Bernstein analysts believe that the price of BTC could experience a fresh “break out” after the halving event in April 2024. At the time of writing, the cryptocurrency is trading at $68,218, witnessing a slight price correction of about 6.96% in the past 24 hours, according to CoinMarketCap. 

Miners To Become Top Beneficiaries Of BTC Surge

In their note, Bernstein analysts highlighted that investing in Bitcoin miners could be the best equity proxy to BTC. According to their analysis, BTC miners typically outperform during BTC bullish cycles and conversely underperform during bearish periods.

As Bitcoin rapidly rises to all time highs above $71,000, Bernstein analysts expect that institutional interest in Bitcoin related equities could top over, with BTC miners becoming one of the largest beneficiaries. Despite various analysts predicting that the next Bitcoin halving could potentially become a death sentence to small mining companies and solo miners, Bernstein analysts have revealed that the rising price of BTC and elevated transaction fees could serve as a cushioning mechanism for miners during the halving period. 

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150 bitcoin analysts bernstein convinced note said

Источник: newsbtc.com

150 bitcoin → Результатов: 126


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