Bitcoin

when

<figure>
 <figcaption>
 Cover image via <a href="https://u.today/" rel="noopener noreferrer nofollow">U.Today</a>
 </figcaption>
</figure>
Global asset management firm Bernstein is increasingly <a href="https://twitter.com/DeItaone/status/1767513052088320470" rel="noopener noreferrer nofollow">confident</a> that Bitcoin's price can hit the $150,000 mark.&nbsp;
In a recent note to its clients, Bernstein pointed to the current bullish trend on Bitcoin's market, which is trading above $72,000. It has urged investors to consider purchasing Bitcoin miners.&nbsp;
The firm believes that the recent dip in Bitcoin miner stock represents a valuable investment opportunity before the upcoming halving event, which is expected to further drive up the price of the flagship coin.
<h2 id="reason-behind-bullishness">Reason behind bullishness &nbsp;</h2>
Bernstein's analysis points to Bitcoin miners as the most viable equity option for participating in the ongoing rally.&nbsp;
The firm's analyst, Gautam Chhugani, expressed strong conviction in <a href="https://u.today/bitcoin-spot-etfs-near-60-billion-in-net-assets-amid-heavy-trading" rel="noopener noreferrer nofollow">Bitcoin</a> reaching the $150,000 target.&nbsp;
This optimism is backed by substantial inflows into Bitcoin, particularly highlighted by the $9.5 billion that flowed into Bitcoin ETFs within 40 days of their launch in January.&nbsp;
Chhugani sees this as just the beginning of Bitcoin's integration into mainstream investment portfolios. It anticipates further institutional investment following the halving.
<h2 id="historical-context">Historical context</h2>
Bernstein's prediction of Bitcoin reaching $150,000 is not sudden; it was first mentioned in October 2023 when Bitcoin was trading at around $34,400.&nbsp;
As <a href="https://u.today/bitcoin-to-150000-bernstein-says-yes" rel="noopener noreferrer nofollow">reported by U.Today</a>, Bernstein's prediction also relies on the historical price-to-marginal cost ratio of Bitcoin, which has proven to be a reliable indicator of its market value. This metric reflects the profitability margin for miners and helps gauge overall market sentiment.&nbsp;
With past cycles showing substantial returns above marginal cost, Bernstein anticipates a similar trend, leading to their mid-2025 price target of $150,000.

Bernstein Sees Bitcoin Reaching $150,000

Table of Contents

U_Today

Other articles published on Mar 12, 2024

Raffle Coin (RAFF) Surges with Ethereum (ETH) as Dogecoin (DOGE) Holders Seek Gains Amidst Binanc...

Blockchain Life Forum 2024: Navigating Investment Opportunities in Dubai's Crypto Bull Run

DeeStream (DST) Solves Presale Fears as 100X Predictions Looks Likely Amidst USD Coin (USDC) & Et...

Bitcoin Surges Past $73,000 Before Halving Event, Witnesses Volatile Dip

Crypto Market Surge Boosts Litecoin Above $100

DeFi and Web3 Expand, Drawing 1000s of American Investors to MMTR

Join our free newsletter for daily crypto updates!