Analysts at the brokerage company Bernstein confirmed their forecast for the price of Bitcoin at $150,000 by the end of 2025. They also expect the bullish trajectory to resume after the 2024 halving. This is reported by The Block.
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“We expect that the “bullish” trajectory of Bitcoin will be restored after the halving, when the mining hashrate is adjusted and the inflow of funds into the spot bitcoin ETF. In addition, the integration of Bitcoin funds with banking firms and investment advisors will continue to provide structural demand for the asset,” the experts wrote.
Bernstein noted that the halving itself will not lead to an increase in the price of the first cryptocurrency without new demand . According to them, miners will be able to mine fewer bitcoins, so the potential pressure on the market will decrease significantly over time. They added that new demand catalysts lead to an increase in the price of the asset in each cycle.
“Historically, the Bitcoin price breakout has always followed the halving, and sometimes several months after it. However, in the current cycle, the approval of the ETF has led to a strong price increase even before the halving,” analysts said.
In addition, experts predict that by 2025, the influx of funds into the Bitcoin ETF will reach $80 billion.
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