Bitcoin (BTC) Poised for $150K Milestone: Bernstein Analysts Reassert Bold Prediction

• Investment research firm Bernstein reaffirms its prediction that Bitcoin (BTC) will hit $150,000 in this bull cycle, despite recent retracements.
• Bernstein analysts Gautam Chhugani and Mahika Sapra believe that Bitcoin metrics indicate a healthy cycle still in its early stages.
• Despite significant declines in recent weeks, the firm maintains its optimistic outlook, citing encouraging inflows into spot ETFs and other positive factors.

Despite recent market volatility, Bernstein analysts reaffirm their prediction for Bitcoin to hit $150,000 in this bull cycle, citing healthy metrics and encouraging ETF inflows.

Bernstein Stands by BTC $150K Forecast

Bernstein initially predicted that BTC would rally to $150,000 by 2023, driven by optimism surrounding the launch of spot Bitcoin exchange-traded funds (ETFs) in the U.S. Despite recent market fluctuations and a drop to $60,000, the firm remains confident in its prediction. The recent market dip, according to Chhugani and Sapra, cleared excess leverage on futures contracts on crypto exchanges, creating a more favorable environment for the crypto market to trend higher.

Positive Indicators Support Bullish Outlook

Bernstein analysts also highlighted positive indicators such as healthy post-... Read the full article for FREE at COINOTAG!