According to The Block, despite a slight correction in the price of Bitcoin in recent weeks, analysts from research and brokerage firm Bernstein believe that Bitcoin is “far from over.” They reiterated their prediction that Bitcoin is expected to reach $150,000 by the end of 2025 in this current cycle.
Analysts Gautam Chhugani and Mahika Sapra wrote in a report that the recent pullback in Bitcoin to a local low of around $57,000 effectively “cleared excessive leverage from futures contracts on cryptocurrency exchanges.”
They also pointed out that the US Bitcoin spot ETF reversed its trend after seven consecutive days of net outflows and showed net inflows last Friday. Even Grayscale’s Bitcoin Trust Fund (GBTC), after 78 consecutive days of net outflows, recorded its first net inflow since January, converting to a spot ETF. The analysts at Bernstein explained:
The Bernstein analysts also mentioned the overall strong inflows into these ETFs over the past three months, the new trend of motivating corporate treasuries to buy Bitcoin, the stable post-halving hash rate, healthy post-halving transaction fees, and the low price of Bitcoin mining equipment. These factors are seen as healthy signals for the entire Bitcoin market.
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