Analysts at a global asset management firm Bernstein have revised their previous Bitcoin target to $200,000, anticipating an influx of Spot Bitcoin ETFs are not which is causing this huge price increase.
Bernstein Analysts Raise Bitcoin Target to $200,000
In a note to clients, Bernstein analysts Gautam Chhugani and Mahika Sapra predicted that Bitcoin could reach $200,000 by the end of 2025. This new price target comes after analysts. he foresaw BTC hitting $150,000 in early May. At the time, analysts revealed that they expected about 70 billion dollars income from Spot Bitcoin ETFs between 2024 and 2025.
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By now, analysts have done it confirmed their predictions, reiterating that the Spot Bitcoin ETF will be the catalyst to drive the price of Bitcoin to $200,000 next year. Analysts weighed in on that Spot BTC ETFs it can grow with demand to represent about 7% of the circulating BTC value.
They revealed their expectations for Spot Bitcoin ETFs have grown significantly in discoveryhighlighting the possibilities of endorsements from major and major cable houses private banking platforms in Q3 and Q4. Analysts have also revealed that around 80% of the Spot Bitcoin ETF’s income is generated by self-directing. retail investors who invest through brokerage platforms.
They believe that institutional investor demand for Spot BTC ETFs is still in its early stages. However, as the market continues to evolve interest of institutional investors could rise, adding significantly to the current inflow of Spot Bitcoin ETFs.
Bernstein analysts wrote in their notes to clients that currently about 15 billion dollars of new flows brought by ETFs combined. Accumulated income on Spot Bitcoin ETFs by saying Farside datait has reached $14.66 billion since its January 11 launch.
Because of the high demand and large capital flows into this asset class, analysts expect Spot Bitcoin ETFs to account for 7% of revenue. A rotating supply of BTC by 2025 and 15% by 2033. They also expect the Spot Bitcoin ETF’s Total Assets Under Management (AuM) to reach $190 billion with a ’25E peak market value and a peak value of 3 trillion by 2033.
This positive forecast underscores analyst confidence in Spot BTC ETFs, despite being a relatively new asset class. In less than six months, the total assets under management of Spot Bitcoin ETFs have increased grown up to $59.19 billion, with an average expense ratio of 1.07%. This massive growth has been fueled by leading asset management companies such as BlackRockFidelity and others.
BTC Price Enters New Bull Cycle
In their note, Bernstein analysts also declared that BTC has officially entered a bull market cycle. Analysts have revealed that this bull cycle it is currently being run by the latter Bitcoin reduction event, which happened on April 20.
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They expect the rise of new catalysts which may result in increased demand for BTC, driving its price to new levels. On the contrary, crypto analyst, Michael van de Poppe has it predicted that BTC has probably bottomed out between the $63,000 and $65,000 price range.
As of writing, the cryptocurrency is trading at $63,865, representing a weekly decline of 4.76%. The Pope proposed a potential conversion on the horizon, predicting where Bitcoin could find itself high pressure soon.
The featured image was created with Dall.E, a chart from Tradingview.com
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