Analysis company Bernstein predicts BTC will soon exceed $150,000!
Bernstein analysts on Monday said they are now more confident Bitcoin (BTC) will hit $150,000 by mid-2025 after the world's largest digital asset hit an all-time high now this year.
The brokerage reiterated its $150,000 price target for the world's largest cryptocurrency, citing booming inflows into Spot BTC ETFs and saying investors should buy the companies' stocks. mine Bitcoin to participate in the upcoming price increase.
Shares of mining companies fell sharply in early trading on Monday. CleanSpark (CLSK) led the decline with a drop of 9%, Marathon Digital (MARA) fell 6.7% and Riot Platforms (RIOT) fell 2%. .5% at the time of writing.
Analysts Gautam Chhugani and Mahika Sapra write: Â âWith Bitcoin climbing to new highs of $71,000, we expect institutional interest in Bitcoin stocks to finally prevail and mining companies Bitcoin will be the biggest beneficiaries.â
đŻ The report says rising Bitcoin prices and transaction fees will provide a good cushion for miners ahead of the halving, even if production costs double after the halving. The outperform-rated Riot Platforms (RIOT) and CleanSpark (CLSK) companies âwill post gross margins of around 70% and 60%, respectively,â the analysts added.
Source: Tradecoinvn.com
