Bitcoin’s Price Surge: Forecasting $150K by 2025 with ETF Optimism
Bernstein forecasts a surge in Bitcoin's value, projecting a rise to $150,000 by 2025, hinging on the potential approval of a Bitcoin exchange-traded fund (ETF) by the SEC in the next two years.
This aligns with sentiments from both Bernstein and JP Morgan analysts, who anticipate a 90% chance of a BTC fund before January 10, 2024.
Previously hesitant about Bitcoin’s investment potential, Bernstein has shifted focus to monitor Bitcoin mining companies and potential developments since 2018. A Bitcoin ETF’s approval could grant mainstream investors direct access to BTC in their portfolios through an SEC-regulated product, unlike the current option, the Grayscale Bitcoin Trust (GBTC), which holds roughly 3% of the total BTC supply.
The $150,000 target signifies a significant leap for Bitcoin, nearly five times its current value of about $34,000 and more than double its previous peak.
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Recent positive movement in Bitcoin’s price, hitting $35,000 last week for the first time since May 2022, has raised hopes for the ETF approval. However, uncertainty looms due to SEC Chair Gary Gensler’s reservations about the crypto industry.
Bernstein also noted the 2024 “halving” event, expecting it to boost BTC’s value by eliminating inefficient miners. They foresee significant growth for the surviving BTC mining entities, while market dynamics and regulatory changes continue to shape Bitcoin’s future outlook.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
