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Bitcoin $200K forecast strengthens bullish market outlook

Bitcoin $200K forecast strengthens bullish market outlook

GrafaGrafa2024/11/19 17:00
By:Isaac Francis

Analysts from research and brokerage firm Bernstein have reaffirmed their forecast that Bitcoin (CRYPTO:BTC) could reach $200,000 by 2025.

In a client note released on Monday, led by Gautam Chhugani, they highlighted favorable political, regulatory, and market conditions that align with this optimistic outlook.

“We are entering a stage, where we expect intrigue will turn to pain for the bitcoin bears,” Chhugani noted.

With Bitcoin currently trading around $92,000, Bernstein’s earlier prediction from June of reaching $200,000 seems increasingly within reach.

“Bitcoin to $100K seems around the corner and our $200K bitcoin target [by the end of] 2025 now looks not as delusional,” Chhugani stated.

The analysts pointed out that the anticipated pro-crypto stance of President-elect Donald Trump’s administration could further support this growth.

The potential appointment of pro-crypto officials to roles such as SEC Chair and Treasury Secretary is expected to enhance market confidence.

“We expect the SEC Chair and Treasury position to be filled by a pro-crypto candidate and that the market should remain positive, regardless of specific appointments,” the note from Bernstein read.

Current SEC Chair Gary Gensler, who has been known for strict crypto regulation, is likely to step down before his term ends.

President-elect Trump has committed to replacing Gensler once he assumes office.

Bernstein’s report also highlighted the role of sovereign demand as a major driver in the next market cycle.

“Demand for bitcoin this cycle is led by institutions, corporates, and retail,” the analysts mentioned, adding, “We believe the next bitcoin cycle will be sovereign led and the political seeds for a sovereign led market are being sown today.”

Regulatory clarity and increased institutional adoption are also expected to play pivotal roles in driving Bitcoin’s growth.

Bitcoin's recent all-time highs have fueled bullish sentiment, supported by inflows into spot Bitcoin ETFs and growing interest from large financial institutions.

Michael Saylor of MicroStrategy has projected that Bitcoin will reach $100,000 by year-end, while Bitwise CIO Matt Hougan has suggested $500,000 as a significant milestone indicating market maturity.

At the time of reporting, the Bitcoin (BTC) price was $91,699.38.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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