Main Points Related to Bitcoin, Web3, Ethereum, and Cryptocurrency:
- Bernstein raises Bitcoin price prediction to $200,000 by 2025 and $1 million by 2033.
- Spot Bitcoin ETFs see significant inflows, driving demand and price projections.
- Analysts anticipate Bitcoin’s price surge fueled by spot ETF market growth and supply shock.
- Bernstein forecasts Bitcoin at $500,000 by 2029 and over $1 million by 2033.
- MicroStrategy initiates convertible notes sale to purchase more Bitcoin.
Bernstein’s Bullish Bitcoin Price Prediction
Bernstein, a leading asset management firm, has doubled down on its Bitcoin price forecast, increasing the target for 2025 to $200,000 and projecting a staggering $1 million by 2033. This revision is based on the firm’s analysis of the growing demand for spot Bitcoin ETFs, which is seen as a pivotal development bringing in traditional capital into the cryptocurrency market.
Spot Bitcoin ETFs Driving Price Surge
The introduction of U.S regulated spot Bitcoin ETFs has been a game-changer for the crypto market according to Bernstein analysts. The surge in net inflows exceeding $15 billion since the ETFs’ debut in January suggests a strong investor interest. The firm predicts that the global spot Bitcoin ETF market could represent around 7% of Bitcoin’s circulating supply by 2025, fueling further price appreciation.
Bitcoin’s Bull Cycle and Price Projections
Bernstein analysts identify Bitcoin’s current phase as a new bull cycle, accentuated by factors like the block reward halving and increased demand amidst a supply shock. With a potential surge to over $200,000 by the end of next year, they foresee a scenario where spot Bitcoin ETFs could account for 15% of the circulating supply by 2033, leading to a price milestone of over $1 million in the next eight years.
