Bitcoin Bernstein estimates that it will be worth $200,000 by the year 2025. In fact, the company anticipates that the asset will surge in value. next The Spot Bitcoin ETFs approved by the SEC in January this year have boosted Bitcoin’s value.
Forecasts are higher than the previous forecasts $150,000 prediction Bernstein’s shared. Analysts expect BTC-ETFs to represent almost 7% the total Bitcoin supply at the end of 2019. next year.
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Bernstein increases BTC projection for 2025
Bitcoin still trades at over $65,000 despite the recent downturn in markets, reports CoinMarketCap. This asset is one of the most talked about assets in finance since Spot ETF was approved earlier this summer. The approvals also led to the token reaching an all-time record high of $73,000.
Many firms, however, expect this value to shift. Bernstein Analytics predicts that Bitcoin will reach $200,000 in 2025. ETFs, the company notes, will remain a key game changer in the cryptocurrency market. next Calendar year
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“We see Bitcoin ETFs as on the cusp of approvals at major wirehouses/ large private bank platforms in Q3/Q4,” The analysts Gautam Chugani and Mahika Spra have written. “The institutional basis trade looks like a ‘trojan horse’ for adoption, and these investors are in the process of evaluating ‘net long’ positions.”
BTC ETFs also brought in a net of $15 billion. They also predict that issuing firms will reach $190 billion of assets managed in 2019. next year. They also predicted that this figure would reach an astonishing $3 trillion by the year 2033.
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Source: watcher.guru