Bitcoin Price Predictions: Bernstein Analysts Outline Key Catalysts That Could Propel BTC to $200,000 Target by 2025

Analysts at research and brokerage firm Bernstein have outlined the key upcoming catalysts that could propel bitcoin's price to their cycle target of $200,000 in 2025.

Bitcoin price is now less than $20,000 away from reaching analysts at research and brokerage firm Bernstein’s cycle target of $200,000, set to be hit by 2025.

“We are entering a stage, where we expect intrigue will turn to pain for the bitcoin bears,” analysts led by Gautam Chhugani said in a Monday note to clients.

Bernstein set their latest bitcoin target in June when its price was around $66,000. At the time, bitcoin’s price was up over 300% for the year and had just hit a new all-time high. However, bitcoin’s price dropped sharply in the following months, hitting a low of around $43,000 in July.

Since then, bitcoin’s price has recovered and is now up over 200% for the year. The cryptocurrency hit a fresh all-time high of over $93,000 on Friday and is now less than $20,000 away from reaching Bernstein’s cycle target.

The analysts noted that bitcoin’s price has already enjoyed support from several institutional investment announcements, including insurance giant MassMutual’s $100 million bitcoin purchase and MicroStrategy’s ongoing bitcoin buying spree.

However, they added that bitcoin’s price is still far from factoring in Trump’s broader crypto promises, such as support to establish the U.S. as a bitcoin mining “powerhouse” and a pledge to shut down “Operation Choke Point 2.0.”

“We believe investors should continue holding bitcoin equity proxies for longer horizons ~12-18 months at least,” the analysts said. “With most institutional investors re-examining their anti-crypto stance, we have a long journey of fresh structural allocations to this market. If you are long, we expect you will be on the right side of bitcoin history.”

Bitcoin is currently trading for $91,959, according to The Block’s Bitcoin Price Page. The foremost cryptocurrency is just 1.5% away from making a fresh all-time high above $93,300, having gained around 1% in the last 24 hours and 12% during the past week.