Analysts’ Confidence Soars
Analysts at Bernstein, a private wealth management firm, have doubled down on their prediction that Bitcoin will reach $150,000 by 2025. Gautam Chhugani and Mahika Sapra believe the cryptocurrency has a high probability of hitting this milestone.
Factors Driving the Surge
- Spot Bitcoin ETFs: The success and demand for Spot Bitcoin Exchange Traded Funds (ETFs) are expected to drive up the value of BTC. Bernstein estimates inflows of $10 billion in 2024 and $60 billion in 2025.
- Bitcoin Halving: The halving event in April 2024, which reduces the supply of new Bitcoins, is likely to trigger a price breakout.
Miners to Benefit
Bernstein analysts suggest that investing in Bitcoin miners could be a good way to capitalize on the BTC surge. Miners typically perform well during bullish cycles and underperform during bearish periods.
Elevated Transaction Fees as a Cushion
Despite concerns about the impact of the halving on small miners, Bernstein analysts believe that the rising price of BTC and increased transaction fees will provide a cushion during this period.
