Bernstein, a leading brokerage firm, predicted in a recent report that the Bitcoin (BTC) price could reach $150,000 by mid-2025.
This prediction is based on analysts' observation that Bitcoin price cycles have historically followed four-year patterns in sync with Bitcoin halving events.
The next Bitcoin halving is expected to occur in April 2024, and according to Bernstein, finding a successful BTC miner could be a high-risk option for users seeking financial exposure to this event.
The report also noted that BTC miners are transforming into industrial-scale businesses and North America is gaining market share against China.
The report also highlighted the growing excitement around the spot Bitcoin exchange-traded fund (ETF). Analysts noted in early January that the approval of a Bitcoin ETF now looks like a 'done deal'.
This development comes after the US Securities and Exchange Commission (SEC) decided not to appeal the Grayscale decision and actively responded with regulations/comments on ETF applications. Therefore, Bernstein believes that an approval is likely by January 10.
*This is not investment advice.
