ETFs
Bernstein Analysts Revise BTC Target to $200,000, Here’s When
Analysts at a global asset management company Bernstein have revised their old Bitcoin target to $200,000, forecasting the influx of Spot Bitcoin ETF Entries catalyzing this massive price surge.
Bernstein Analysts Raise Bitcoin Target to $200,000
In a note to clients, Bernstein analysts Gautam Chhugani and Mahika Sapra predicted that Bitcoin could reach $200,000 by the end of 2025. This new price target comes after analysts predicted BTC would hit $150,000 earlier in May. At the time, analysts revealed they were forecasting around $70 billion in influx of Spot Bitcoin ETFs between 2024 and 2025.
Currently, analysts have solidified their predictions, reiterating that Spot Bitcoin ETFs would be the trigger that pushes the price of Bitcoin to $200,000 next year. Analysts estimated that Spot BTC ETF Demand could grow to account for around 7% of total BTC in circulation.
They disclosed their expectations for Spot Bitcoin ETFs at grow significantly in terms of adoptionhighlighting opportunities for approval of major cabling installations and large private banking platforms in the third and fourth trimesters. Analysts also revealed that almost 80% of Spot Bitcoin ETF inflows are generated by self-directed stocks. individual investors who invest through brokerage platforms.
They believe that institutional investor demand for Spot BTC ETFs is still in its early stages. However, as the market continues to evolve the interest of institutional investors could rise, adding massively to current inflows into Spot Bitcoin ETFs.
Bernstein analysts wrote in their notes to clients that currently, about $15 billion in net new flows have been generated by the ETFs combined. Cumulative inflows into Spot Bitcoin ETFs according to Hidden side datahave reached $14.66 billion since its launch on January 11.
Due to the high demand and massive influx of capital into this asset class, analysts expect Spot Bitcoin ETFs to be equivalent to 7% of Circulating supply of BTC by 2025 and 15% by 2033. They also predict that Spot Bitcoin ETF’s total assets under management (AuM) will reach $190 billion by the 25E market peak and a whopping $3 trillion dollars by 2033.
This bullish forecast highlights the analyst’s confidence in Spot BTC ETFs, despite it being a newly discovered asset class. In less than six months, the total assets under management of Spot Bitcoin ETFs have grown up at $59.19 billion, with an average expense ratio of 1.07%. This massive growth has been led by leading asset management companies like black rockFidelity and others.
BTC price enters new bullish cycle
In their note, Bernstein analysts also said that BTC has officially entered a new bull market cycle. Analysts revealed that this bull cycle is currently motivated by the recent Bitcoin Halving Eventwhich took place on April 20.
They anticipate the rise of new catalysts this could trigger a surge in demand for BTC, propelling its price to new levels. On the other hand, crypto analyst Michael van de Poppe has predicted that BTC likely bottomed between the $63,000 and $65,000 price range.
At the time of writing, the cryptocurrency is trading at $63,865, reflecting a weekly decline of 4.76%. Poppe suggested a potential reversal on the horizon, predicting that Bitcoin could end up in upward momentum Soon.
Featured image created with Dall.E, chart from Tradingview.com