Bitcoin set to hit $200k in 2025, Bernstein analysts
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Bernstein analysts expect that Bitcoin’s price will reach $200,000 by 2025 and $1 million by 2033. This comes after high inflows into spot US Bitcoin exchange-traded funds (ETFs) after their approval in January 2024. The prediction comes amid a market decline as bulls and bears struggle to to decide the crypto market direction.
Also Read: BNB Chain activates BEP 336 hard fork, reducing fees by 90%
Crypto assets enjoyed a rally during the European morning, lifting BTC around 1.5% over 24 hours to $66,300 and ETH 2% to $3,600. However, the price movement has been halted, signaling market struggles.
Bitcoin projected to trade around $200K in a few months
Most recently, Bernstein analysts have made a BTC prediction on the back of Spot BTC ETFs. These analysts predict that spot BTC ETFs could represent around 7% of the total circulating BTC supply by the end of 2025.
Bernstein analysts Gautam Chhugani and Mahika Sapra wrote in a note addressed to their clients, “We see Bitcoin ETFs as on the cusp of approvals at major wirehouses/large private bank platforms in Q3/Q4.”
The institutional basis trade looks like the ‘Trojan Horse’ for adoption, and these investors are in the process of evaluating ‘net long’ positions.
Bernstein
According to the analysts, the majority of spot Bitcoin ETF flows currently originate from self-directed retail investors through broker platforms, while institutional integrations with wirehouses are still in the early stages.
The analysts add, “Around $15 billion of net new flows have been brought in by the ETFs combined, […] We expect Bitcoin ETFs to be equivalent to ~7% of Bitcoin in circulation by 2025 and ~15% of Bitcoin supply by 2033.”
At present, the Bitcoin Fear and Greed Index stands at 60, signaling a Greed market metric.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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