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Bernstein Stirs FOMO, Urges Immediate Investment in Bitcoin and Other Cryptos
- Bitcoin and Dogecoin hit new all-time highs, with Bitcoin reaching US$89,604 and Dogecoin up 128% week-on-week.
- Analysts anticipate continued gains in the crypto market, citing a favourable US regulatory environment expected under President Trump.
- Bernstein’s team predicts Bitcoin could reach US$200,000 by 2025, driven by strong institutional and retail interest.
- Despite multiple new highs, current profit-taking levels are modest, suggesting a maturing market with stable price expectations.
It looks like the news is going to be about new all-time highs (ATH) every other day now. After Bitcoin had a superb weekend and early Monday trading, when it made a new ATH twice, it’s done so yet again.
Related: Standard Chartered Predicts Solana to Outperform BTC, ETH, With New All-Time High Before 2025
BTC gained 9% in the past 24 hours, with the only other top-ten crypto by market cap that’s gained more being Dogecoin, which has soared another 20%. Bitcoin is now up 30% week-on-week, with DOGE gaining 128%.
While some analysts said the US$87k (AU$132.4k) mark serves as barrier and may see a retreat to below US$80k (AU$121.7k), BTC decided differently and made a fresh new high earlier this morning Australian Time, hitting US$89,604 (AU$136,315) for the first time ever.
And while that figure now stands as the new ATH, many analysts believe we’re not done yet.
Bernstein: “Welcome to the Crypto Bull Market — Buy Everything You Can.”
Among them is Gautam Chhugani, who is heading private wealth management firm Bernstein’s team of analysts, forecasting more gains, suggesting “immediate investment in crypto”. Chhugani and the team cite a highly favourable legislative environment amid Donald Trump’s win of the US presidency, adding that now is the time to enter the market.
The analysts highlight an expectation for a more crypto-friendly US, with new Securities and Exchange Commission (SEC) leadership – although we reported here about the challenges of this – and a broader acceptance including institutional interest in crypto.
We expect a crypto-friendly regulatory environment under Trump, starting with a pro-crypto SEC. Aides in Trump’s transition teams are explicitly pro-crypto. […] Welcome to the crypto bull market — buy everything you can.
Gautam Chhugani, Bernstein Bernstein’s price target for Bitcoin remains firmly in the bullish zone, with US$200k (AU$304k) by 2025 a possibility.
Bitfinex: Bitcoin Enters Uncharted Territory
Analysts at Bitfinex had expected a consolidation prior to further upward movement, and of course that’s still a possibility. But in the meantime, institutional and renewed retail demand set a “robust foundation for Bitcoin’s price discovery in uncharted territory”.
Related: Cardano’s ADA Rallies as Founder Charles Hoskinson Vows to Help Shape US Crypto Policy
They also added that despite hitting several new highs, profit taking is relatively “modest”, which is a bullish signal for BTC:
The current wave of profit-taking is comparatively modest, compared to the March all-time high, when realised profits peaked at $3.1 billion. We believe this reflects a maturing market that has recalibrated its fair value expectations.
Bitfinex Combined with surging inflows into the Spot Bitcoin exchange-traded funds (ETFs), the immediate outlook is promising.
Author
Aaron Feuerstein
Aaron Feuerstein is a freelance writer based in Melbourne. His focus is on decentralised finance and the regulatory space surrounding blockchain. He holds a Master's in Accounting. When he is not studying the latest legal case, he enjoys his time as a modest but eager hobby cook.
