Analysts at Bernstein called their forecast that Bitcoin’s value will rise to $200,000 by the end of 2025 as conservative. They called on skeptics to reconsider the cryptocurrency’s limited supply amid record levels of US government debt. which now amounts to about 35 trillion dollars, writes The Block.
Author:
https://rb.ru/author/bilyk/
Subscribe to RB.RU on Telegram
“Bitcoin will reach $200,000 this cycle (end of 2025). This is a conservative forecast,” said Gautam Chhugani, head of digital assets at Bernstein.
Previously, Bernstein predicted that the price of Bitcoin would exceed $500,000 by the end of 2029 and reach $1 million in 2033. Analysts associate this forecast with the expected high demand for bitcoin spot exchange-traded fund (ETF) shares. .
At 18:05 Moscow time, the Bitcoin exchange rate is 66.3 thousand dollars. The market capitalization of the first cryptocurrency was 1.31 trillion dollars.
On Tuesday, October 22, Bloomberg reported that options traders expect Bitcoin to hit a record high of $80,000 by the end of November, regardless of the results of the US presidential election. Market optimism is also supported by non-political factors, such as further rate cuts by the Federal Reserve and inflation indicators.
At the same time, JPMorgan experts believe that now is not the best time to mine Bitcoin: the computing power required to mine it has exceeded the cost of the cryptocurrency.
Author:
Kirill Bilyk
Source: RB
I am a professional journalist and content creator with extensive experience writing for news websites. I currently work as an author at Gadget Onus, where I specialize in covering hot news topics. My written pieces have been published on some of the biggest media outlets around the world, including The Guardian and BBC News.
