- Despite recent market fluctuations, Bernstein analysts remain confident in their prediction of Bitcoin reaching $150,000 in this cycle.
- The recent surge above $65,000 has been attributed to positive inflows in the US spot BTC ETF.
- Analysts highlight several indicators suggesting that Bitcoin is still in the early stages of its rise.
Bitcoin’s bullish trend continues, with Bernstein analysts maintaining their $150,000 prediction for this cycle, despite recent market fluctuations.
Bernstein Analysts Stand by $150,000 Bitcoin Prediction
Despite the recent market downturns in April and last week, Bernstein analysts Gautam Chhugani and Mahika Sapra remain steadfast in their prediction that Bitcoin will continue its upward trend. In a note to clients, they reiterated their belief that Bitcoin will reach $150,000 in this cycle.
Bitcoin’s Surge Above $65,000
The recent surge in Bitcoin’s price above $65,000 has stirred the market and brought a wave of bullish predictions. The analysts attribute this rise to the positive inflows in the US spot BTC ETF. They also highlight several indicators suggesting that Bitcoin is still in the early stages of its rise, including strong overall inflows into ETFs in the past three months, new incentives for corporate treasuries to buy Bitcoin, a stable hash rate after the halving, healthy transaction fees post-halving, and low-priced Bitcoin mining equipment.
Conclusion
Despite recent market fluctuations, the overall outlook for Bitcoin remains positive. With strong indicators suggesting that Bitcoin is still in the early stages of its rise and analysts standing by their bullish predictions, the future of Bitcoin looks promising.
