Bernstein Analysts Raise Hopes with Optimistic Bitcoin Forecast
Analysts at research and brokerage firm Bernstein forecast that Bitcoin's price could reach $200,000 by the end of 2025. Currently, Bitcoin is trading at around $92,000 and continues to move near last week's peak levels.
Promising forecasts from Bernstein analysts The analysts led by Gautam Chhugani indicate that the market has entered a phase where it could challenge those who are bearish on Bitcoin. The firm had announced its $200,000 price target when Bitcoin was around $66,000 in June. According to the analysts, increasing institutional demand and potential regulatory changes are among the driving forces behind this growth.
Developments in the US market continue to catalyze Bitcoin Following Trump's recent election victory, there is speculation regarding appointments for the positions of Treasury Secretary and SEC Chair. Bitcoin advocates like Cantor Fitzgerald CEO Howard Lutnick and investor Scott Bessent are considered potential candidates for these significant roles. Analysts expect an optimistic atmosphere in the market regardless of who the candidates may be.
The topic of a national Bitcoin reserve and legal regulation is brought to the forefront Trump's campaign promise to establish a national Bitcoin reserve also draws attention. Senator Cynthia Lummis proposed a bill aiming to purchase 5% of Bitcoin's total supply over the next five years. This equates to about $100 billion at current prices.
Bernstein also highlights the increasing demand for Bitcoin exchange-traded funds (ETFs) and the plans of companies like MicroStrategy to increase Bitcoin purchases by $42 billion over the next three years. These plans are noted as potentially playing a significant role in boosting Bitcoin's value.
Bitcoin started the first day of the week with an upward move toward $92,000 after a weekend marked by a downward momentum in a sideways trend. However, the cryptocurrency lost momentum again during intraday trading, pulling back toward the reopening zone of $89,500 ahead of the US session, and in the last hour, it found support at this level while starting to test the $90,000 levels again.