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Bernstein sees Bitcoin ending 2024 at $80k before rising to $150k in 2025

According to Bernstein experts, (BTC) is expected to reach a new high in 2024 and then rise to as much as $150,000 in 2025.

“A new crypto era is about to begin, characterized by extraordinary institutional mainstream adoption that will shift capital from traditional markets to cryptocurrency markets. In a client letter, experts stated, “This moment is unprecedented.”

A favorable macro environment also exists, with rates peaking, inflation decreasing, and the possibility of monetary stimulus in a year of significant global elections. Here, we have an unhealthy obsession with Bitcoin and its mining stocks and lack the courage to exercise caution.

Analysts strongly anticipate that this week or next, the top asset managers in the world will launch a Bitcoin ETF. They advise investors to concentrate “on multiple bullish Bitcoin catalysts (halving, transaction fees inflection, ETF marketing) through the year,” even though the adage “buy the rumor, sell the news” may come true.

“Purchase the dip, not the news.” The analysts continued, “‘Sell the news’ is like selling for a 15-20% correction, but miss out on the multi-bagger returns ahead.”

Much higher-than-expected demand from corporate treasuries could be one of the factors driving up Bitcoin prices in 2024 and 2025.

“Based on our marginal cost based projection, we expect Bitcoin to reach all-time highs in the second half of 2024—post halving—and could conclude the year at roughly $80,000K. We continue to view $150K as the cycle high for 2025.

“In 2024, institutional interest in cryptocurrency equities will become widespread as bears are squeezed by short interest and equity investors feel underexposed to the space.”

Analysts predict that ETH will be the only asset that isn’t Bitcoin to receive a spot ETF in other places.

“[This] will position ETH as the primary blockchain tech asset, combined with its growing fees, scaling roadmap, and sustainable token model,” they continued.

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