Bitcoin Forecast by Bernstein: Is It a Buy? Understanding the Factors Impacting Bitcoin Price

Saturday, 4 May 2024, 11:45

Investment firm Bernstein predicts Bitcoin will reach $150,000 by mid-2025. Factors such as the success of new Bitcoin ETFs and the upcoming halving event are boosting confidence in Bitcoin's potential growth. With increasing investment flows and historical price trends, Bitcoin appears to be a strong buy despite market uncertainties.

https://store.livarava.com/045d7c39-0a0d-11ef-a6c1-63e1980711b2.jpg — Bitcoin Forecast by Bernstein: Is It a Buy? Understanding the Factors Impacting Bitcoin Price

Follow the money

According to Bernstein, the primary factor in Bitcoin's favor right now are the new spot Bitcoin ETFs, accumulating more than $30 billion in assets under management.

The top ETF by a wide margin

The iShares Bitcoin Trust (NASDAQ: IBIT) holds over 200,000 bitcoins, with a 71-day run of positive inflows.

Spot Bitcoin ETFs worldwide

Spot Bitcoin ETFs have been approved globally, but U.S.-based ETFs are leading in size and potential impact.
Bernstein estimated that these ETFs could reach 10% of circulating Bitcoin, fostering further price growth.

What about the halving?

The Bitcoin halving event, combined with the ongoing ETF investments, is expected to drive Bitcoin's price to new heights over time.

Past halving cycles

Historical data shows that after previous halving cycles, Bitcoin's price soared to all-time highs, signaling a positive outlook for future growth.

Should you buy Bitcoin?

Considering the supportive factors of ETF investments and the halving event, Bitcoin presents an attractive investment opportunity with potential for substantial returns.

This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.