Janice R. Andrews
Financial experts at Bernstein are increasing their bet that Bitcoin will soar to $150,000 by mid-2025, citing the cryptocurrency’s remarkable rise. Analysts Gautam Chhugani and Mahika Sapra of Bernstein are growing more confident in their optimistic prediction as Bitcoin breaks beyond the $72,000 barrier.
Chhugani and Sapra reaffirmed their bullish perspective in a recent message to clients, pointing to the strong momentum that is now driving Bitcoin upward. They emphasized that the impending April halving event will be a major driver of a breakout in the price trend of Bitcoin. Their approach, which integrates institutional flows into Bitcoin estimations, is the foundation of this view. They predict inflows of $10 billion for 2024 and an astounding $60 billion for 2025.
The experts highlighted to the recent decline in Bitcoin miners’ equities as a critical opportunity for investors. They claimed that this slump provides a final window before the halving event, whereby mining business shares are projected to fast catch up with Bitcoin’s price spike. Notwithstanding the fact that Bitcoin has been around for 14 years, Chhugani and Sapra underlined that miners continue to be the most trustworthy indicator of the cryptocurrency’s performance.
It is recommended that investors ignore daily correlations and take advantage of mining share dips as opportunities for strategic investments. Analysts predict that institutional interest in Bitcoin stocks will peak and that miners will profit handsomely from it.
An large inflow of funds into Bitcoin ETFs has reinforced Bernstein’s belief in the future of Bitcoin. Inflows into Bitcoin ETFs have topped $9.5 billion since regulatory legalization in January, averaging about $370 million a day in the last month alone. If the current trend continues, Bitcoin ETFs should surpass Bernstein’s projected inflows for 2025 in 166 trading days for the balance of 2024.
Even though Bitcoin saw a little 2.5% decline on Tuesday (it was trading at about $70,801 as of 2:30 p.m. ET), the general trend is still quite positive. According to Bernstein analysts, institutional interest, strong momentum, and the impending halving event will drive Bitcoin to $150,000 by mid-2025.
With the way the cryptocurrency industry is developing, it seems more likely than ever that Bitcoin will reach new heights. Both fans and investors are excited to see how this incredible trip plays out, since Bitcoin has the potential to completely change the financial landscape in the years to come.
