Research and brokerage firm Bernstein has revised its forecast for Bitcoin upward. Analysts now expect the price of Bitcoin to reach $200,000 by the end of 2025.
In its report, Bernstein stated that Bitcoin is in an unprecedented bull cycle. Analysts also predict that in the long term, the price of Bitcoin could reach $500,000 by 2029 and even $1 million by 2033.
Bernstein also noted the success of MicroStrategy, the largest institutional investor in Bitcoin. Analysts believe that spot Bitcoin ETFs will be a turning point for the cryptocurrency market. They claim that their Bitcoin forecasts are based on the growing demand for ETFs and the limited supply of Bitcoin.
“We believe US-approved ETFs represent a turning point for cryptocurrencies, increasing structural demand from traditional capital pools.
In total, the ETF generated approximately $15 billion in net new flows. ETFs will be equivalent to approximately 7% of Bitcoin's circulating supply by 2025 and 15% of Bitcoin's supply by 2033.
“At this rate, we expect the price to reach $200,000 by the end of 2025 and $1 million by 2033.”
Analysts recently noted that MicroStrategy founder Michael Saylor has become synonymous with the Bitcoin brand, “positioning MSTR as a leading Bitcoin company raising large-scale capital for an active Bitcoin acquisition strategy.”
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