Amid Bitcoin’s ongoing ascent, analysts at Bernstein have reaffirmed their forecast of the cryptocurrency reaching an astounding $150,000 by 2025, bolstered by a recent surge in prices.
According to CoinDesk, Bernstein analysts have reinforced their conviction in Bitcoin’s potential, projecting a substantial surge to $150,000 by mid-2025 following a notable price upswing.
After Bitcoin’s recent milestone, analysts anticipate further growth post the next halving event, maintaining a bullish stance on select miners despite share price fluctuations.
Bernstein underscores its ambitious Bitcoin price target, citing robust inflows into exchange-traded funds (ETFs) and advising investors to consider bitcoin mining stocks to capitalize on the anticipated rally.
Gautam Chhugani and Mahika Sapra, the analysts, highlight the predominance of retail-traded bitcoin miners and anticipate increased institutional interest amid Bitcoin’s ascent.
Despite a prevailing investor strategy favoring spot ETFs over mining stocks, Bitcoin’s rising price and transaction fees are expected to support miners against potential post-halving cost increases.
Bitcoin’s current trading price stands at $71,968.03, indicating a slight dip, according to data from Benzinga Pro.
The bullish outlook on Bitcoin’s future from Bernstein analysts aligns with sentiments from other market experts. Fundstrat’s Tom Lee recently predicted a potential $150,000 value by year-end.
Moreover, Bitcoin’s recent peak has led to the emergence of approximately 1,500 new “millionaire wallets” daily, indicating growing mainstream acceptance and investment.
MicroStrategy’s Michael Saylor expressed optimism, stating there are no apparent catalysts to drive Bitcoin prices down, emphasising its strengthening market position post-spot Bitcoin ETF approval.
