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Bitcoin's latest rally puts it on track to hit $150,000 by mid-2025, Bernstein says

bitcoin
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  • Bernstein analysts are "more convinced" after the latest rally that bitcoin will hit $150,000 in 2025.

  • Analysts predict that Bitcoin's price is likely to extend its record run following April's halving.

  • They added that the massive inflows to bitcoin ETFs bolsters their view that bitcoin miners are the best proxy for the token.

As Bitcoin smashes past $72,000 to a fresh record high, Bernstein analysts are"now more convinced" that the largest cryptocurrency will reach $150,000 by mid-2025.

In a note to clients on Monday, Bernstein's analysts Gautam Chhugani and Mahika Sapra reiterated their bullish forecasts that the price of the world's largest cryptocurrency is likely to "break out" after the halving event in April on the back of the current strong momentum. The analysts said that they're "now more convinced" about their target for the crypto, which they first published last year.

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"We built bitcoin institutional flows in our estimates to arrive at bitcoin price. We estimated $10 billion inflows for 2024 and another $60 billion for 2025," they wrote in the note.

The analysts referred to the recent slump in bitcoin miners' stocks as the likely "last window" for investors before the halving, as shares of mining firms will swiftly catch up with bitcoin's price surge.