Bitcoin, the oldest and largest cryptocurrency in the world, is projected to achieve $200.000 by the end of next year. These projections, released by Bernstein Research, increase from the $150.000 price target last year. Bernstein Research, an investment and research…
By the end of next year, Bitcoin, the biggest and oldest cryptocurrency in the world, is expected to reach $200,000. Bernstein Research’s estimates are higher than the $150.000 price goal from the previous year.
The financial and research firm Bernstein Research predicted that the price of Bitcoin may reach $200,000 by 2025. The U.S. election, institutional demand and adoptions, and possible regulatory changes are among of the variables that might cause the price of Bitcoin to soar toward these new goals.
There are rumors that pro-crypto individuals may be appointed to the positions of Secretary of Treasury and Chair of the Securities and Exchange Commission (SEC) if Donald Trump wins the presidential election on November 5.
Scott Bessent, the founder of Key Square Group and CEO of Cantor Fitzgerald Howard Lutnick, may take Janet Yellen’s position as cashier.
A number of large corporations purchasing Bitcoin or any cryptocurrency-related product, such an exchange-traded fund (ETF), will increase institutional demand and increase the likelihood that Bitcoin will rise next year. The most recent being Goldman Sachs raising its $710 million stake in BlackRock’s Spot Bitcoin ETF, iShares Bitcoin Trust ETF (IBIT).
In order to promote Bitcoin as a financial reserve in addition to gold, U.S. Republican Senator Cynthia Lummis has presented the Bitcoin Act and the Bitcoin Strategic Reserve proposal.
Bitcoin bullish projection: $1 million by 2033
By 2033, Bernstein analysts predicted that the Bitcoin ETF will hold around 15% of the total amount of “digital gold” in circulation. Given the marginal cost of manufacturing, the price of bitcoin might rise to over $500,000 by the end of 2029 and $1 million by the end of 2033.
Bernstein’s analysts Gautam Chhugani and Mahika Sapra stated, “We think that the U.S.-regulated ETFs were the turning point for crypto that brought in structural demand from traditional pools of capital.”
CoinMarketCap estimates that since its launch in mid-January of this year, the Bitcoin spot ETF has received inflows of almost $28 billion. Other governments likewise took this action, releasing the identical product in their own countries.