Broker Bernstein 'Now I'm Convinced' That Bitcoin Will Reach $150K After Hitting ATH.
Analysts also predict that bitcoin will 'explode' after the halving and forecast an increase in mining company stock prices.
The broker reiterated its $150,000 price target for BTC, citing booming exchange-traded fund (ETF) inflows, and said investors should buy shares of bitcoin miners to gain exposure. upcoming recovery.
Mining company stocks fell sharply in the early session on Monday. CleanSpark (CLSK) led the decline 9%, Marathon Digital (MARA) fell 6.7% and Riot Platforms (RIOT) fell 2.5%. He believes the stock is undervalued because traditional investors are skeptical.
He believes that with BTC reaching a new peak, mining companies' attention will return to prices and transaction fees.
