Bitcoin
Bernstein analysts revise BTC target to $200,000, that’s when
Global asset management company analysts Bernstein revised their former Bitcoin target to $200,000, anticipating the influx of Identify Bitcoin ETF Entries catalyzing 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 predicted BTC would reach $150,000 in early May. At the time, analysts revealed that they predicted around US$70 billion in Spot Bitcoin ETF inflows between 2024 and 2025.
Currently, analysts solidified their predictions, reiterating that Spot Bitcoin ETFs would be the trigger that would take the price of Bitcoin to $200,000 next year. Analysts estimated that Spot BTC ETFs could grow in demand to represent around 7% of total BTC in circulation.
They disclosed their expectations for Spot Bitcoin ETFs significantly grow in adoptionhighlighting possibilities for approvals of large wirehouses and large private banking platforms in the third and fourth quarter. Analysts also disclosed that nearly 80% of Spot Bitcoin ETF flows are generated by self-directors. 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 increase, greatly increasing current flows into Spot Bitcoin ETFs.
Bernstein analysts wrote in their client notes that currently about $15 billion of net new flows have been generated by the ETFs combined. The cumulative inflows into Spot Bitcoin ETFs according to Data from the opposite sidereached US$14.66 billion since its launch on January 11.
Due to the high demand and huge capital investment in this asset class, analysts expect Spot Bitcoin ETFs to be equivalent to 7% of the Circulating supply of BTC by 2025 and 15% by 2033. They also predict the Spot Bitcoin ETF’s total assets under management (AuM) to reach $190 billion by the 25E market peak and a staggering $3 trillion by 2033.
This optimistic forecast underscores analyst confidence in Spot BTC ETFs despite it being a newly discovered asset class. In less than six months, total assets under management for Spot Bitcoin ETFs grown to $59.19 billion, with an average expense ratio of 1.07%. This massive growth was led by leading asset management companies such as Black stoneFidelity and others.
BTC price enters new bullish cycle
In their note, Bernstein analysts also stated that BTC has officially entered a new bull market cycle. Analysts revealed that this bull cycle is currently driven by the recent Bitcoin Halving Eventwhich took place on April 20th.
They anticipate the rise new catalysts this could trigger a surge in demand for BTC, driving its price to new levels. In contrast, crypto analyst Michael van de Poppe foreseen that BTC has likely reached its lowest point between the $63,000 and $65,000 price range.
At the time of writing, the cryptocurrency was trading at $63,865, reflecting a weekly decline of 4.76%. Poppe suggested a potential reversal on the horizon, predicting that Bitcoin could find itself in upward momentum brief.
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