Bitcoin Could Reach $90,000 by Year-End, Say Bernstein Analysts
Bitcoin (BTC) had a strong start to the year with a 55% price increase and analysts at Bernstein predict even greater gains with a year-end price target of $90,000. They also see Bitcoin miners as attractive investments for equity investors due to positive factors such as the new Bitcoin bull cycle and strong ETF inflows. Bernstein revised their estimate of the reduction in hashrate post-halving from 15% to 7%. While CleanSpark's price target was raised to $30, Riot Platforms' target was lowered to $22 and Marathon Digital's target was raised to $23. Spot Bitcoin ETFs have experienced negative inflows for three consecutive days and Grayscale's Bitcoin trust has bled $13 billion since its launch. BTC is currently hovering around $65,800, up over 55% year-to-date.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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