Bitcoin Poised to Reach $200,000, Says AllianceBernstein
According to the global investment firm AllianceBernstein, Bitcoin’s price is set to hit $200,000 over the next year, despite recent market weakness. The firm attributes this bullish outlook to the constrained supply of Bitcoin and the unprecedented demand from spot ETFs. Previous estimates from Bernstein in March suggested Bitcoin could reach $150,000 by 2025.
Bullish Factors Driving Bitcoin’s Price
The expected surge in Bitcoin’s price is attributed to several factors:
- Constrained supply of Bitcoin
- Increased demand from spot ETFs
- Positive outlook for the crypto market
Spot Bitcoin ETFs on the Rise
Spot Bitcoin ETFs are expected to have $190 billion in assets under management (AUM) by the end of 2025. Currently, these ETFs have gathered $53 billion in AUM across multiple offerings, signaling growing interest in cryptocurrencies.
MicroStrategy’s Bitcoin Holdings
Bernstein analysts highlighted American software firm MicroStrategy as a key player in the Bitcoin market. With a sizeable Bitcoin stash, MicroStrategy is seen as an actively-leveraged bet on Bitcoin compared to passive spot ETFs.
Long-Term Outlook for Bitcoin
Bernstein analysts believe that Bitcoin’s price is following a historical four-year cycle that began with the halving event in April. This cycle is expected to drive Bitcoin’s price to new highs, potentially reaching $500,000 by 2029 and $1,000,000 by 2033.
Hot Take: Bitcoin’s Bright Future
Despite recent market turbulence, Bitcoin’s long-term prospects remain promising. With favorable market conditions and growing institutional interest, Bitcoin’s price is expected to soar to new heights in the coming years, presenting lucrative opportunities for investors.
**Sources:**
– [CoinGlass](https://www.coinglass.com/bitcoin-etf)
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