After the $100,000 target for Bitcoin, it is now looked upon with skepticism that the $200,000 target will also come.
Bernstein analysts also think that Bitcoin will reach $200,000 in 2025.
So what catalysts will take Bitcoin to $200,000?
At this point, Bernstein analysts have outlined key catalysts that could push Bitcoin price to the $200,000 target in 2025.
“We are entering a phase where we expect things to turn painful for Bitcoin bears,” analysts led by Gautam Chhugani wrote in a note to clients.
Analysts stated that Bitcoin seems very close to reaching $100,000, and that the $200,000 target they set by the end of 2025 no longer seems so unrealistic.
Trump and Pro-Crypto Candidates!
Analysts, who first stated that an administration headed by Trump is bullish for Bitcoin, stated that the new person to be appointed as the Treasury Department and SEC Chairman is pro-cryptocurrency and is among the upward catalysts for Bitcoin and cryptocurrencies.
Bitcoin Strategic Reserve!
Analysts cited the creation of a strategic Bitcoin reserve for the United States as the second catalyst.
If Donald Trump creates a BTC strategic reserve as he promised, it will support the BTC rally.
“This cycle, Bitcoin demand is led by institutions, corporates and retail. We believe the next Bitcoin cycle will be led by governments.”
Favorable Cryptocurrency Regulations and Increasing Institutional Demand!
“As these regulatory catalysts come into play, we expect a new confidence in the crypto bull market. This will not only manifest as a higher Bitcoin price, but also a higher Ethereum, SOL price,” analysts said.
Finally, Bermstein analysts noted that increasing institutional demand via ETFs and MicroStrategy’s BTC buying strategy could support the price rally.
*This is not investment advice.