LIVE$BTC Bitcoin will reach $200,000 in 2025, report says.
Bitcoin will reach $200,000 in 2025, report says
AllianceBernstein analysts also project the cryptocurrency may climb to $500,000 by 2029.
SABRINA TOPPAJUN 15, 2024 7:00 AM EDT
A new forecast from analysts at AllianceBernstein says that bitcoin has the possibility of reaching $200,000 next year, propelled by "unprecedented bitcoin demand" from the recent launch of bitcoin exchange-traded funds (ETFs), among other factors.
In March, AllianceBernstein said that the world's leading digital asset might reach $150,000 by the close of 2025, but it has since adjusted this forecast in light of bitcoin's historic four-year trajectory. The bitcoin halving, which typically occurs every four years, is a major factor in determining bitcoin's price performance.
While the outlook for 2025 might seem overly bullish, AllianceBernstein unveiled even more optimistic figures for the world's leading cryptocurrency in 2029 and 2033 – claiming that bitcoin was on track to hit $500,000 by the close of 2029 and even a million by 2033.
Part of AllianceBernstein's confidence draws on sustained interest in bitcoin ETFs, which the SEC approved this January. The funds allow mainstream investors to gain exposure to bitcoin without directly holding them. So far, they have pulled in $17 billion since their launch, precipitating a wave of optimism about the nascent asset class.
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