Even with a current downturn that induced anxiety throughout the digital currency sphere, Bernstein is still optimistic regarding Bitcoin, anticipating it could achieve an enormous $200,000. This prediction arises even after Bitcoin declined to its nadir since 2023, and as market unease proliferated subsequent to Trump’s tariff intimidations toward Canada and Mexico, which momentarily erased almost $300 billion from the collective digital currency market valuation.
Bernstein’s specialists perceive this decrease as simply an additional purchasing prospect, restating their conviction that Bitcoin will recuperate robustly within the subsequent year. While they initially intended for a $200,000 price by the close of 2025, they’re presently implying that sustained market circumspection might postpone this landmark by several months.
The contemporary slump was initiated by a confluence of elements, encompassing Trump’s tariff discourse, the Federal Reserve’s conservative posture, a meme token collapse associated Ice Open Network and AIDA Unite to Bolster dApp Integration with AI Argentinian President Javier Milei, and the repercussions from a $1.4 billion cyberattack on Bybit.
Nevertheless, Bernstein is maintaining firm, mentioning sustained acceptance by prominent establishments as a justification to remain sanguine concerning Bitcoin’s market arrangement. They’re not isolated in their favorable viewpoint; Standard Chartered’s digital asset research director, Geoffrey Kendrick, foresees a decline to roughly $80,000 preceding a resurgence, fashioning a superior “acquire the dip” circumstance. Kendrick advises awaiting a substantial outflow of $1 billion from Bitcoin ETFs in a solitary day prior to participating to procure.
He echoes Bernstein’s hopeful perspective, predicting Bitcoin to hit $200,000.
In spite of the current decline in the digital currency marketplace this week, the options marketplace is displaying another promising signal, with traders wagering on Bitcoin to climb to $120,000 by March.
Based on figures from basedmoney.io, almost 40% of deals concluding on March 28 will only yield profits if Bitcoin goes beyond $120,000.
*Andrew Flanagan serves as a markets journalist for DL News. Have a suggestion? Contact him at [email protected].*
