While some analysts drew negative scenarios for the Bitcoin price after the declines in April and last week, BTC started to rise again, contrary to the expected decline.
BTC, which made a positive start in the second week of May, rose above $ 65,000.
While this increase provides dynamism in the market, upward predictions continue to increase.
Bernstein analysts, who expect $ 150,000 in Bitcoin, repeated their predictions and stated that Bitcoin's upward trend will continue.
Bernstein analysts Gautam Chhugani and Mahika Sapra said in a note to clients that their $150,000 estimate was still valid, The Block reported.
"Bitcoin has experienced a correction to $56,000 levels in recent weeks. However, this is quite normal. This correction has effectively cleared the excess leverage in futures contracts on cryptocurrency exchanges."
Metrics still show that Bitcoin is in the early stage of the uptrend. This shows that the correction is healthy.
Here at Bernstein, we reiterate our prediction that Bitcoin will reach $150,000 by the end of 2025.”
Analysts, who also evaluated the recent rise in which Bitcoin rose above $ 65,000, stated that the spot BTC ETF flow in the USA turning positive with net inflows was effective in this increase.
Bernstein analysts say strong overall inflows into ETFs over the past three months, new incentives for corporate treasuries to buy Bitcoin, a stable post-halving hash rate, healthy post-halving transaction fees, and low-priced Bitcoin mining equipment are positive signs that BTC will continue its rise. He added that it was.
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I EXPLAIN IN DETAIL.
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