The price of the first cryptocurrency could rise to $150,000 by January 2025 as a result of the approval of spot Bitcoin ETFs in the United States. CNBC writes about this with reference to the Bernstein report.

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The bullish estimate for digital gold is almost five times higher than current rates above $34,000, where the asset has consolidated after testing the $35,000 mark. The forecast is also more than double the all-time high of $69,000 reached by the cryptocurrency in November 2021.

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Bernstein senior analyst Gautam Chhugani believes the SEC will approve the first Bitcoin ETFs in early 2024. This product will allow ordinary investors to gain access to cryptocurrency directly from their investment portfolios.