- $725 billion asset manager Bernstein has predicted that Bitcoin (BTC) will reach $90,000 in 2024.
- Bernstein also forecasts that BTC will reach $150,000 in 2025, surpassing its current all-time high of $73,000.
- The firm expects flows into the recently approved Bitcoin and Ethereum spot ETFs to exceed $100 billion in the next 24 months, driving the surge in crypto prices.
Bitcoin has seen impressive gains so far in 2024, surging over 150% this year alone according to CoinMarketCap. With the recent approval of Ethereum ETFs by the SEC, asset management firm Bernstein has expressed bullish predictions for the leading cryptocurrency.
Positive Market Sentiment
The cryptocurrency market entered 2024 filled with optimism, largely due to the anticipated arrival of crypto-based ETFs. These investment products were expected to usher in a wave of new adoption and institutional investments.
This has proven true, with Bitcoin receiving regulatory approval for spot ETFs in January. Now, Bernstein predicts these products will drive Bitcoin to $90,000 by 2024.
Massive Expected ETF Inflows
In a new research report, Bernstein analysts forecast over $100 billion will flow into Bitcoin and Ethereum ETFs over the next two years.
Additionally, they set a 2025 price target of $150,000 for Bitcoin. This would represent a sizable increase over Bitcoin’s current all-time high of $73,000 reached in March 2021.
Knock-On Effects
While Ethereum has seen moderate gains following its ETF approval last week, Bernstein contends the product launch will buoy Bitcoin’s price.
Overall, Bernstein’s predictions paint an optimistic picture for the leading cryptocurrency over the next few years as spot ETFs drive increased adoption and institutional investment. If their analysis proves accurate, new all-time highs could be on the horizon for Bitcoin.
