The Analysts of financial services firm Bernstein Bitcoin is expected to increase in price. The price of the crypto-token’s flagship token was raised in a recent report.
In 2024, Bitcoin Will Hit $90,000.
A report By CoinDesk Bernstein analysts Gautam Chugani and Mahika Sapr have increased their prediction of Bitcoin’s year-end price from $85,000 to $95,000. The research paper cited strong gains in Bitcoin’s price. Spot Bitcoin ETF BTC is now more bullish due to a combination of inflows and mining revenue records.
The Spot Bitcoin ETFs are now a year old and have already seen a significant increase in their value. impressive amount of inflows The funds they have contributed significantly to an increase in BTC’s price. It is therefore understandable that these analysts think they can still have a positive impact on Bitcoin’s long-term price.
Even though miners’ rewards These Bernstein analysts predict that BTC mining profits will also reach a new high during the mid-April Halving Event. The analysts believe that this will have a favorable impact on BTC. Bitcoinist recently reported Bitcoin Halving may force miners from business and increase revenue for those remaining.
Chhugani & Sapra are also recently reaffirmed Their prediction is that Bitcoin will reach $150,000 in mid-2020. The ETFs Spot Bitcoin are believed to be a major factor in this price increase.
BTC could even reach $150,000 this year
Standard Chartered Airlines is another financial Institution that has revised their year-end Bitcoin price target. They are compared to each other. initial prediction They can earn up to $100,000 recently stated Bitcoin’s price could reach $150,000 in the next year. Standard Chartered, like Bernstein also hinted at the influence of the Bitcoin ETFs Bitcoin as their primary motivation for being bullish on Bitcoin.
Bank of America noted in its report that investment funds offer a much more stable and long-term position for Bitcoins, as opposed to when crypto tokens reached new heights solely on the basis of speculation. Standard Chartered has also predicted that BTC could rise to $200,000 The end of the year 2025.
In an interesting addition, they said that a “overshoot of $250,000 at some point in the year 2025 is probable if ETF inflows continue apace and reserve managers buy BTC.” When compared to the actual results, these predictions look very conservative Samson Mow’s prediction BTC’s value could reach $1 million by the end of this year
Bitcoin was trading around $66,200 at the time this article was written, down more than 1% over the past 24 hours. data CoinMarketCap.
BTC bears take back control of the price | Source: BTCUSD on Tradingview.com
Featured Image from Yahoo Finance. Chart taken from Tradingview.com
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