Bernstein predicts Bitcoin will reach $150,000 by the end of 2025

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Bernstein2024/05/06 08:35

By:Bernstein

Golden Finance reported that analysts at brokerage Bernstein believe that Bitcoin is expected to reach $150,000 by the end of 2025. Analysts agree that the recent pullback to a local low of about $57,000 has effectively "cleaned up excessive leverage in cryptocurrency exchange futures contracts." They also pointed out that the U.S. Bitcoin exchange-traded fund has resumed net inflows after eight consecutive days of outflows. Even Grayscale's converted GBTC recorded a net inflow of $63 million on Friday after 78 consecutive days of outflows. "This is significant considering that GBTC has been the source of a large amount of sustained selling, and the new 9 ETFs must absorb these sell-offs."

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