Bitcoin to Hit $150,000 in the Next Cycle: Bernstein Analyst Predicts

As Bitcoin continues to capture global attention, Bernstein analyst Gotham Chugani offers a striking forecast: a potential peak of $150,000 by mid-2025.

Coupled with the expected SEC approval of Bitcoin spot ETFs, this analysis could have significant implications for investors and the broader cryptocurrency market.

Get the full scoop on what experts are saying about Bitcoin's future.

Potential Rise to $150,000 by Mid-2025

Gotham Chugani, an analyst at asset management firm Bernstein, has revealed his forecast that the price of Bitcoin could potentially reach $150,000 by the middle of 2025.

This prediction was made in a research report dated October 30, 2023, and has been covered by multiple media outlets including CNBC.

Bernstein believes that the Bitcoin price follows a 4-year cycle pattern, aligned with its halving events. For the 2024-2027 cycle, the firm anticipates that Bitcoin will hit its cycle peak of $150,000 by mid-2025.

Expected Approval of Bitcoin Spot ETFs

Gotham Chugani also reported on the highly-anticipated Bitcoin spot ETF, predicting that the U.S. Securities and Exchange Commission (SEC) is likely to approve a Bitcoin ETF by the first quarter of 2024.

He commented that approvals for ETFs from top-tier asset management firms like BlackRock and Fidelity appear to be imminent.

Additionally, Chugani anticipates that once a Bitcoin spot ETF gets approved, it could account for up to 10% of BTC's market cap within three years.

Various opinions for Bitcoin's price post-2024 range from $120,000 to $180,000.

Multiple financial institutions and funds such as Fundstrat, Pantera Capital, Standard Chartered Bank, and Matrixport have voiced predictions around the $150,000 mark.