Bitcoin Price Prediction: $150,000 by 2025, Says Bernstein Analyst
According to investment research firm Bernstein, Bitcoin’s price could surge to $150,000 by 2025. In a recent note to clients, analyst Gautam Chhugani expressed optimism about the potential approval of a Bitcoin exchange-traded fund (ETF) by the Securities and Exchange Commission (SEC) within the next two years.
Chhugani’s prediction aligns with that of JP Morgan analysts, who believe there is a 90% chance of investors gaining access to a BTC fund before January 10. Previously, Bernstein had dismissed Bitcoin as an investment asset in 2018. However, the firm has been monitoring Bitcoin mining companies and analyzing the contagion effects in the crypto market since then.
A Bitcoin ETF would provide mainstream investors with direct exposure to BTC through an SEC-regulated investment product. Currently, the Grayscale Bitcoin Trust (GBTC) is the closest alternative, holding approximately 3% of the total BTC supply.
The Road to $150,000
Bernstein’s price target of $150,000 represents a significant increase from Bitcoin’s current price of around $34,000 and its previous all-time high of $67,000. If this prediction comes true, it would mark a remarkable recovery for the cryptocurrency following its major decline last year.
Bitcoin has experienced recent rallies, reaching $35,000 for the first time since May 2022. There is growing optimism among investors regarding the SEC’s potential approval of a Bitcoin ETF after choosing not to appeal a court ruling in Grayscale’s lawsuit. However, uncertainty remains as SEC Chair Gary Gensler has been critical of the crypto industry.
Bernstein also highlighted the upcoming “halving” event in 2024, which is expected to boost Bitcoin’s price by eliminating inefficient miners. The firm initiated coverage on several BTC mining stocks, anticipating significant gains for the survivors.
Hot Take: Bernstein Analyst Predicts Bitcoin Price of $150,000 by 2025
Investment research firm Bernstein has made a bold prediction, stating that Bitcoin’s price could reach $150,000 by 2025. This forecast is based on the potential approval of a Bitcoin ETF by the SEC in the next two years. If realized, this would signify a major turnaround for Bitcoin after its previous decline.
Bernstein’s optimistic outlook is shared by JP Morgan analysts, who also believe that investors have a high chance of gaining access to a BTC fund before January 10. While there is growing hope for a Bitcoin ETF approval, regulatory uncertainties and criticism from SEC Chair Gary Gensler remain as potential obstacles.
In addition to the ETF prospects, Bernstein highlighted the upcoming halving event in 2024 as another factor that could boost Bitcoin’s price. The firm expects inefficient miners to be forced out, leading to significant gains for surviving BTC mining stocks.
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