Bernstein Predicts Bitcoin Price to Reach $90,000 by Year-End⚡🔥🔥🔥🔥🔥

According to the latest report from analysts Gautam Chhugani and Mahika Sapra, a new #BTC bull cycle is underway, fueled by strong capital inflows into newly launched Bitcoin exchange-traded funds (ETFs) eyes, along with a strong expansion in mining capacity and historic mining revenues.

The analysts note that Bitcoin miners remain “attractive buying targets for equity investors looking to participate in the crypto cycle”, and have revised their estimates for the Cryptocurrency mining stocks.

They noted that they observed a hashrate decrease of 7% following Bitcoin’s upcoming halving, compared to a 15% decrease they had previously predicted. Hashrate is an index of the computing power underpinning the Bitcoin network, as miners compete to find new blocks.

The reward to miners for each block found will be halved next month, from 6.25 to 3,125 BTC in an event known as halving. Halving is part of Bitcoin’s currency supply and occurs every after 210,000 blocks are mined, which equates to approximately every four years. Hashrates often decrease after halvings because some miners become unprofitable from the reduced rewards. However, the revised forecast from Bernstein shows that the halving hashrate decrease will not be as severe as before.
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🚨Attention! Pay close attention to this opportunity.🚨

Act now! This could be your final chance to seize these prices!
Please read carefully.♟️

Bitcoin (BTC) is currently experiencing a significant sell-off momentum, indicating a notable bearish trend. Despite this, bullish sentiment persists, with miners possibly hesitating to sell.☀

For retail investors, now is an opportune moment to enter the market. Leveraging short positions and spot trading can be advantageous, especially for those not holding any BTC currently.✨

Strategically placing buy orders can lead to favorable outcomes. Dollar-cost averaging (DCA) is recommended, as even if BTC drops to support levels around 59k or 57k, a rebound is anticipated, particularly with the anticipation of ETF adoption by institutional investors.🤮

It's crucial to exercise prudence, patience, and strategic thinking when navigating the market. Stay informed and make informed decisions.👽

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Bitcoin Spot ETFs Witness Third Consecutive Day of Outflows

In the last three days, exchange-traded funds (ETFs) have recorded a steady trend of withdrawals, with a total of $261.5 million leaving the 10 approved funds on March 20. In total, Outflows have reached $742 million, with March 18 and 19 recording $154.3 million and $326.2 million, respectively, according to Farside Investor data.

The outflow was mainly due to a consecutive day of withdrawals by the Grayscale Bitcoin Trust (GBTC), which saw the fund lose $386.6 million, while the Invesco Galaxy Bitcoin ETF (BTCO) also saw a $10.2 million withdrawal . Both of these events obscured small inflows from eight other ETFs.

Flows for all 10 U.S. spot Bitcoin ETFs, green row highlights March 20. Source: Farside Investors

BlackRock’s iShares Bitcoin Trust (IBIT) recorded its second-lowest withdrawal ever, at $49.3 million – just slightly above its daily low on February 6. Fidelity Wise Origin Bitcoin Fund (FBTC) also experienced a day with low net inflows, at $12.9 million.

Overall, this was the second-highest day of net inflows for the 10 ETFs, just $326.2 million less than March 19.
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