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Bitcoin (BTC) bull run just got a confirmation as a major investment research and management firm decided to go long the crypto. Bernstein is reportedly convinced that Bitcoin’s price is heading toward $150,000. The biggest digital asset recently breached the $72,000 price level. Bitcoin set to breach $150K? 
According to a report, Bernstein in a note to clients recommends buying <a href="https://news.todayq.com/did-microstrategy-just-send-bitcoin-to-its-all-time-high/" rel="noopener noreferrer nofollow">Bitcoin miners</a>‘ shares. It suggests that the recent underperformance presents an opportunity before the upcoming halving.
Bernstein analyst showed his confidence in the $150,000 price target set for the Bitcoin bull run. However, BTC is trading over $72,000 price level. The firm expects a breakout post-halving.
It is important to note that, institutional flows into news launched BTC Exchange-Traded Fund (ETF) are being looked at as major factors behind these estimates. It is reportedly projected a $10 billion inflows for 2024 and an additional $60 billion for 2025.
However, Bitcoin ETF inflows have already crossed the $9.5 billion milestone. This major achievement comes within the last 40 trading days since the ETF launch on January 10.
Analyst Chhugani believes that BTC’s integration into traditional asset portfolios is still in its early stages. It directly indicates a big potential for adoption. The original crypto is on a record-breaking run making new all time highs. Big players like BlackRock Inc. and Fidelity Investments are leading in this race. BTC getting fresh approvals 
As reported earlier, crypto hit a big win in the UK as the London Stock Exchange is accepting applications for Bitcoin and Ether exchange-traded notes. While Thailand also made a positive move in this sphere. It gave a nod to overseas crypto ETFs for retail buyers contributing to the bullish sentiment.
Among all these major developments happening for Bitcoin, the halving event remains crucial for the industry. The blockchain is set to undergo a halving event next month. It is a process where the supply of new tokens is cut in half.&nbsp;
In the recent trading days, BTC had reached an all-time peak of almost $72,881. Bitcoin price is up over 50% in the last one month. It is 24 hour trading volume stands at around $51.5 billion. However, It is holding a massive market cap of $1.4 trillion.
The global digital asset market saw a marginal surge in the last 24 hours. The cumulative market cap now stands at more than $2.7 trillion.
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Bitcoin bull run gets confirmation, Bernstein predicts $150,000 target

Todayq News

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