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While some analysts drew negative pictures for the Bitcoin price after the declines in April and last week, BTC started to attack again, contrary to the decline expectations.
At this point, BTC, which started the second week of May positively, rose above $ 65,000.
While this rise mobilizes the market, bullish predictions continue to come.
Bernstein analysts, who expect Bitcoin to reach $150,000 in this cycle, stated that they are persistent in their predictions and stated that Bitcoin will continue its rise.
According to The Block, Bernstein analysts Gautam Chhugani and Mahika Sapra said in a note to clients that their $150,000 estimate was still valid.
“Bitcoin has experienced a correction in recent weeks, reaching as high as $ 56,000. However, this is a completely normal situation. This correction has effectively cleared the excess leverage in futures contracts on cryptocurrency exchanges.
While metrics still indicate that Bitcoin is in the early stage of an uptrend, this correction is healthy.
At this point, as Bernstein, we reiterate our prediction that Bitcoin will reach $150,000 by the end of 2025.”
Evaluating the recent rise that took Bitcoin above $65,000, analysts stated that the spot BTC ETF flow in the USA turning positive with net inflows was effective in this rise.
At this point, Bernstein analysts are confident that strong overall inflows into ETFs over the past three months, new incentives for corporate treasuries to purchase Bitcoin, a stable post-halving hash rate, healthy post-halving transaction fees, and low-priced Bitcoin mining equipment will continue BTC's rise. He added that there were signs.
*This is not investment advice.