2024

Bitcoin ETF

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Analysts at <a href="https://bitcoinist.com/bernstein-bank-on-btc-mining-survival-consolidation-and-ai-diversification/" rel="nofollow">financial services firm Bernstein</a> are increasing their price expectations for Bitcoin. This follows a revised report in which they boosted their year-end target for the flagship crypto token’s price.&nbsp; 
<h2 id="bitcoin-to-hit-90-000-by-the-end-of-2024">Bitcoin To Hit $90,000 By The End Of 2024</h2> 
According to a <a href="https://www.coindesk.com/business/2024/03/21/bitcoin-year-end-price-target-raised-to-90k-at-bernstein/" rel="nofollow">report</a> by CoinDesk, Bernstein analysts Gautam Chhugani and Mahika Sapra have raised their year-end prediction for Bitcoin’s price from $80,000 to $90,000. Their research report cited the strong <a href="https://bitcoinist.com/bitcoin-spot-etf-100-volume/" rel="nofollow">Spot Bitcoin ETF</a> inflow and a record mining income as the reasons for this increased bullishness on BTC’s price. 
Since launching, the Spot Bitcoin ETFs have recorded an <a href="https://bitcoinist.com/bitcoin-etfs-record-2-2-billion-inflow-in-past-week/" rel="nofollow">impressive amount of inflows</a> into their funds and have significantly contributed to an <a href="https://www.newsbtc.com/news/bitcoin/bitcoin-price-crosses-35000/">increase in BTC’s price</a>. As such, it is understandable why these analysts believe they could still positively impact Bitcoin’s price in the long run.&nbsp; 
Despite <a href="https://bitcoinist.com/why-bitcoin-halving-could-bring-uncertainty-to-mining-industry/" rel="nofollow">miners’ rewards</a> being cut in half during the Halving event in mid-April, these Bernstein analysts also foresee a record mining income for BTC miners. They believe this would have a positive impact on BTC’s price. Bitcoinist <a href="https://bitcoinist.com/why-bitcoin-halving-could-bring-uncertainty-to-mining-industry/" rel="nofollow">recently reported</a> that Bitcoin Halving could force some miners out of business, paving the way for the remaining miners to enjoy increased revenue.&nbsp; 
Meanwhile, Chhugani and Sapra also <a href="https://www.newsbtc.com/news/bitcoin/bitcoin-headed-for-150000/">recently reaffirmed</a> their prediction that Bitcoin will hit $150,000 by mid-2025. They believe that the Spot Bitcoin ETFs will be one of many factors contributing to this massive price surge.&nbsp; 
<h2 id="btc-could-even-hit-150-000-this-year">BTC Could Even Hit $150,000 This Year</h2> 
Standard Chartered is another financial institution that revised its year-end target for Bitcoin’s price. As against their <a href="https://www.newsbtc.com/news/mark-your-calendars-bitcoin-to-hit-100000-by-end-of-2024-standard-chartered-says/">initial prediction</a> of $100,000, they <a href="https://www.newsbtc.com/news/standard-chartered-bitcoin-ethereum-prediction-year-end/">recently stated</a> that Bitcoin could rise to $150,000 by the end of this year. Like Bernstein, Standard Chartered also alluded to the influence of the <a href="https://bitcoinist.com/bitcoin-spot-etfs-hits-150-billion-trading-volume/" rel="nofollow">Bitcoin ETFs</a> as the primary reason for their bullishness on Bitcoin.&nbsp; 
The bank noted in the research report that these investment funds provide a more robust and sustainable positioning for Bitcoin, unlike when the crypto token hit new highs solely based on speculations. Standard Chartered also predicts that <a href="https://www.newsbtc.com/news/bitcoin/bitcoin-demands-exceeds-supply/">BTC could rise to $200,000</a> by the end of 2025.&nbsp; 
Interstingly, they added that an “overshoot to $250,000 is likely at some point in 2025 if <a href="https://bitcoinist.com/bitcoin-etfs-record-2-2-billion-inflow-in-past-week/" rel="nofollow">ETF inflows</a> continue apace and reserve managers buy BTC.” These predictions, however, look conservative when one considers <a href="https://www.newsbtc.com/news/bitcoin/bitcoin-price-reach-1-million/">Samson Mow’s prediction</a> that BTC could hit $1 million this year.&nbsp; 
At the time of writing, Bitcoin is trading at around $66,200, down over 1% in the last 24 hours, according to <a href="https://coinmarketcap.com/currencies/bitcoin/" rel="nofollow">data</a> from CoinMarketCap.&nbsp; 
<img loading="lazy" decoding="async" class="aligncenter size-medium" src="https://www.tradingview.com/x/na77xZ76/" alt="Bitcoin price chart from Tradingview.com" width="3286" height="1530">

Bernstein Analysts Says Bitcoin Will Reach A New ATH By Year End, Here’s The Target

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