Bernstein Sets Fresh Bitcoin Price Target at $200K, Describing It “Conservative”

Analysts at Bernstein, a leading brokerage and research firm, foresee Bitcoin reaching $200,000 by the end of 2025, a target described as “conservative.”

The analyst highlighted Bitcoin’s potential as a “store of value,” given its fixed supply and ongoing economic uncertainties. With the U.S. national debt exceeding $35 trillion and persistent inflation risks, Bitcoin is seen as a compelling alternative to traditional assets like gold.

Alternative Investment Options

Meanwhile, the Bernstein analyst offered suggestions for investors who may prefer indirect Bitcoin exposure. Notable options include MicroStrategy, a company with the largest corporate Bitcoin holdings, and Robinhood, a trading platform that is steadily expanding its cryptocurrency services.

Additionally, U.S.-listed Bitcoin mining firms, like Riot Platforms and CleanSpark, were mentioned as appealing investments. These firms are focused on scaling up energy resources to support their Bitcoin mining operations.

Core Scientific, another notable entity in this space, has diversified into AI services while retaining substantial Bitcoin mining capacity through its robust energy infrastructure.

Other Analysts Supporting $200K Bitcoin

The price target of $200,000 by 2025 is not unique to Bernstein’s analysis. Sminston With, a prominent crypto analyst, has argued Bitcoin could exceed this level.

He cited a Decay Channel model indicating potential prices ranging from $199,106 to $207,623 by early 2026.

Sometimes linear axes just do better at showing just how much higher we’re going. Just look how much further we have to go according to the Decay Channel model!

Depending on the regression method used, linear vs nonlinear, the upper bound of decay looks to be either $199,106 or… pic.twitter.com/OIqkzsNxGu

— Sminston With (@sminston_with) October 21, 2024

Moreover, the analyst noted that even the lowest estimate remains bullish, assuming that Bitcoin’s price decay converges to its minimum support line, a scenario he deems unlikely.

Additionally, he argued that if the exponential pattern of past cycle tops remains consistent, Bitcoin could perform better than anticipated, potentially surpassing the forecasted range.

Standard Chartered’s Bitcoin Outlook

Geoff Kendrick, head of digital asset research at Standard Chartered, also projected Bitcoin to reach $200,000 by 2025, irrespective of the outcome of the U.S. presidential election.

Kendrick linked this expected surge to three factors: policy shifts, inflation concerns, and increased inflows into spot Bitcoin exchange-traded funds (ETFs).

He pointed to the potential repeal of Staff Accounting Bulletin 121, which limits the amount of digital assets that banks can hold. President Biden initially vetoed the regulation despite congressional support for its removal.

If elected, Kendrick expects that either Donald Trump or Kamala Harris could overturn the policy, which may create a more favorable regulatory environment for Bitcoin’s growth.

Source

Updated: 10/23/2024 — 13:00

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