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Bitcoin is down, but these analysts still think BTC will hit $150K this year
Bitcoin may be trading below its 2021 record high of $69,044, mired in crisis after hitting an all-time high in March, but that doesn’t mean the price can’t double by the end of 2025 – or even sooner.
That’s according to analysts at investment firm AllianceBernstein, who said in a report on Monday that they “feel even better” about their $150,000 Price Prediction for the largest cryptocurrency.
Analysts at the leading financial firm set the bullish mark last year. Despite current market conditions, they see a long bullish period ahead.
“We believe we are only in the first quartile of this cycle, and the market has another 15-18 months before we consider this market to peak,” wrote analysts Gautam Chhugani and Mahika Sapra.
They’re not the only experts who say $150,000 is in sight.
British multinational bank Standard Chartered he said last month that ETFs will continue to be popular and included in broader macro funds, which will see the cryptocurrency’s price soar to $150,000 by the end of this year.
Analysts at both companies saw the January launch of spot Bitcoin ETFs as a key driver.
“ETF issuers continue to provide positive feedback from their dialogues with asset allocators, and this cycle we have seen the best institutional marketing engines in action (aka BlackRock, Fidelity),” the Bernstein duo wrote.
They also argued that demand for the newly approved ETFs will continue, further increasing the price of the digital currency. Funds recorded low lows and highs last week.
In January, the U.S. Securities and Exchange Commission finally authorized 11 Bitcoin ETFs in spot, allowing them to trade on exchanges. The funds attracted a flood of capital to the market as everyday investors sought exposure to cryptocurrency through brokerage accounts offered by traditional financial firms such as VanEck, BlackRock and Fidelity.
Driven by ETF fever, the Bitcoin price it hit a new all-time high of $73,747 two months ago but has since struggled, falling below $57,000 last week. BTC is now trading at just over $63,000 per coin, according to CoinGecko.
Over the weekend, however, ETF outflows reversed course as money flooded into funds again. The recent upward trajectory has “eliminated excess leverage in futures contracts on cryptocurrency exchanges,” the Bernstein analysts said, suggesting it will only increase from here.