Bitcoin has experienced a notable downturn recently, with its value falling to $63,400, a level last seen roughly a month ago. Since June 7, the cryptocurrency’s price has dropped by about 11%, with altcoins facing even steeper declines.
What Are Analysts Saying?
Despite the downturn, some analysts remain optimistic about Bitcoin’s future. CrediBULL Crypto, a prominent crypto analyst with 400,000 followers on social media platform X, shared bullish insights. He highlighted previous rapid price movements, noting a $35,000 surge in just 50 days. CrediBULL Crypto suggests that Bitcoin could reach $100,000 within 30 days, given that current trading levels are around $64,000. He believes the cryptocurrency still has about six months left for significant growth.
Could Bitcoin Hit $200,000 by 2025?
CrediBULL Crypto isn’t alone in his positive outlook. Analysts from Bernstein Research have revised their long-term price forecast for Bitcoin, now predicting it could hit $200,000 by the end of 2025. This is an increase from their previous prediction of $150,000. They also project that spot Bitcoin exchange-traded funds (ETFs) could account for roughly 7% of the total circulating supply by 2025.
Furthermore, Bernstein analysts speculate that this cycle could peak with Bitcoin reaching $1 million by 2033. They estimate that ETFs might then hold around 15% of the cryptocurrency’s circulating supply.
Key Inferences for Investors
- Bitcoin’s price needs to rise by 56.25% from its current level to reach $100,000.
- Acceleration in Bitcoin purchases through ETFs is crucial for this price surge.
- Addressing inflation in global markets, especially in the U.S., is necessary for Bitcoin’s growth.
- ETFs could significantly influence Bitcoin’s market, possibly controlling 7% of the supply by 2025 and 15% by 2033.
If these predictions hold, Bitcoin could see significant gains in the coming years, making it a potentially lucrative investment.