Bitcoin may be trading below its 2021 record high of $69,044, mired in the doldrums after setting an all-time high of in March, but that doesn’t mean the price can’t double by the end of 2025—or even sooner.
That’s according to analysts at investment firm AllianceBernstein, who said in a Monday report that they “feel even better” about their $150,000 price prediction for the biggest cryptocurrency.
The analysts at the leading financial firm set the optimistic mark last year. Despite current market conditions, they see a long bull run ahead.
“We believe we are in mere first quartile of this cycle, and the market has another 15-18 months before we consider this market topping out,” analysts Gautam Chhugani and Mahika Sapra wrote.
They are not the only experts that say $150,000 is within sight.
British multinational bank Standard Chartered said last month that the ETFs will continue to be popular and included in broader macro funds, which will lead to the price of the cryptocurrency to rocket to $150,000 by the end of this year.
The analysts from both firms saw the January launch of spot Bitcoin ETFs as a key driver.
“ETF issuers continue to provide positive feedback from their dialogues with asset allocators, and this cycle we have seen the best institutional marketing engines at work (aka BlackRock, Fidelity),” the Bernstein pair wrote.
They also argued that demand for the newly approved ETFs will continue, thus further driving up the price of the digital coin. The funds saw both low lows and high highs just last week.
Back in January, the U.S. Securities and Exchange Commission finally authorized 11 spot Bitcoin ETFs, allowing them to trade on stock exchanges. The funds have drawn a flood of capital into the market as ordinary investors sought exposure to the cryptocurrency via brokerage accounts offered by traditional financial firms like VanEck, BlackRock, and Fidelity.
Buoyed by ETF fever, the price of Bitcoin hit a new all-time high of $73,747 two months ago, but has since struggled, dropping below $57,000 last week. BTC is now trading at a little over $63,000 per coin, according to CoinGecko.
Over the weekend, however, ETF outflows reversed course as money again flooded into the funds. The recent upward trajectory “cleaned up the excess leverage on futures contracts on crypto exchanges,” the Bernstein analysts said, suggesting that it’s only up from here.
免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。
There is no comment, immediately to comment!