Investing.com - Financial Markets Worldwide
⚠ NVDA Q3 Earnings Alert: Why our AI stock picker is still holding Nvidia stockRead More

Bernstein says Bitcoin to hit $100k soon, $200k by 2025 on regulatory ease

Published 2024-11-18, 08:46 a/m
© Reuters
BTC/USD
-

Investing.com - Bernstein on Monday in a note said Bitcoin would hit $100,000 mark imminently and reaffirmed its $200,000 target by 2025.

Currently trading above $90,000, Bitcoin has been rallying since Donald Trump’s election as U.S. president, driven by expectations of regulatory easing.

The brokerage pointed to key upcoming appointments, including a new SEC chair and Treasury Secretary, as critical for the crypto market.

“We expect the SEC chair and Treasury position to be filled by a pro-crypto candidate and that the market should remain positive, regardless of specific appointments,” analysts wrote.

Bernstein also highlighted progress in the U.S. toward establishing a Bitcoin reserve but noted that the legislative process could take time.

“For us, the demand for Bitcoin this cycle is led by institutions, corporates and retail,” analysts said, adding that momentum signals a shift to broader institutional and sovereign interest in the asset.

Bernstein anticipates this cycle to transition from being retail and corporate-led to sovereign-driven, bolstered by deregulation and anti-Central Bank Digital Currency (CBDC) sentiments.

Trump’s promises, which includes boosting U.S.-based Bitcoin mining, simplifying token registration, and supporting stablecoin legislation, are expected to fuel institutional and sovereign demand for digital assets.

Latest comments

Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.