Bitcoin After hitting a new all-time high in March, it has fallen into a slump and may be trading below its all-time high of $69,044 in 2021, but that doesn't mean the price will remain until the end of 2025 or That doesn't mean it can't double sooner.
That's according to analysts at investment firm AllianceBernstein, who said in a report on Monday that they “feel that the situation has gotten even better.” $150,000 price prediction For the largest cryptocurrencies.
Analysts at major financial firms set optimistic indicators last year. Despite current market conditions, they believe the secular bull market will continue.
Analysts Gautam Chughani and Mahika Sapura said: “We believe we are only in the first quarter of this cycle, with 15 to 18 days left before the market considers this market to have plateaued. It will take months,” he said.
They're not the only experts who say $150,000 is on the horizon.
British multinational bank Standard Chartered Said Last month, it announced that ETFs will continue to be popular and will be incorporated into broader macro funds, resulting in the cryptocurrency's price soaring to $150,000 by the end of this year.
Analysts from both companies said in January that Spot Bitcoin ETF as a key driver.
“ETF issuers continue to provide positive feedback from conversations with asset allocators, and this cycle we are seeing the best institutional marketing engines (aka BlackRock, Fidelity) working. ,” the Bernsteins wrote.
He also argued that the demand for newly approved ETFs will continue, leading to further increases in the price of digital coins.The fund experienced both lows and highs. just last week.
Back in January, the U.S. Securities and Exchange Commission finally approved 11 Spot Bitcoin ETFs allow trading on stock exchanges. The fund drove large amounts of money into the market as retail investors sought exposure to cryptocurrencies through brokerage accounts offered by traditional financial firms such as VanEck, BlackRock, and Fidelity.
Driven by ETF fever, bitcoin price It hit a record high of $73,747 two months ago, but has since struggled and fell below $57,000 last week. According to CoinGecko, BTC is currently trading at just over $63,000 per coin.
But over the weekend, the ETF's outflows reversed as money flowed into the fund again. Analysts at Bernstein said the recent upward trajectory has “wiped out the excess leverage in crypto exchange futures contracts,” suggesting it’s only going higher from here.
