Bitcoin price expected to quadruple!
While Bitcoin prices continue to fluctuate, investment firm Bernstein has released a new report.
Bernstein analysts said in a report released today that they expect BTC to quadruple by mid-2025, becoming an asset with a market capitalization of over $3 trillion, Coindesk reported.
Analysts say Bitcoin prices will quadruple by mid-2025 and Bitcoin fundamentals have never been better.
At this time, analysts led by Gautam Chhugani say that 70% of the circulating supply was not traded last year, making the following statement in the report:
“Last year, 70% of the circulating Bitcoin supply remained untraded.
While this number is the highest in Bitcoin history, it is particularly extraordinary for BTC, which is known for its limited supply and exponential volatility.
Other catalysts for Bitcoin prices include the halving, which is scheduled to occur in September or September 2024, and the potential approval of a spot Bitcoin ETF.
“For now, the SEC will continue to evaluate spot Bitcoin ETF applications from leading asset managers, with U.S. approval still expected in early 2024.”
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