👉Bernstein analysts have raised their Bitcoin price target to $200,000, expecting substantial inflows from Spot Bitcoin ETFs to drive this surge.
👍Here are the key points:
🤑Revised Bitcoin Target:
Previous Target: $150,000 (forecasted in May).New Target: $200,000 by the end of 2025.
🔥Factors Driving the Surge:
Spot Bitcoin ETFs: Anticipated to bring around $70 billion in inflows between 2024 and 2025.Demand: Spot BTC ETFs could represent 7% of total BTC circulation by 2025.Institutional and Retail Investors:80% of inflows from self-directed retail investors.Growing interest from institutional investors.
✨Market Impact:
Current Inflows: $15 billion brought in by ETFs.Growth Projections:Spot BTC ETFs could manage $190 billion by 2025.Potential to reach $3 trillion by 2033.
⭐Market Context:
New Bull Cycle: Triggered by the Bitcoin halving event on April 20.Current Price: Bitcoin is trading at $63,865, experiencing a 4.76% weekly decline.Analyst Predictions: Potential price bottom between $63,000 and $65,000, with a reversal expected.
This bullish outlook underscores the significant impact of Spot Bitcoin ETFs on the market, despite being a relatively new investment vehicle.