Alliance Bernstein, a global asset management firm, has made some bold predictions regarding the price of bitcoin in the coming years. According to their analysts, the price of bitcoin could skyrocket to $200,000 by 2025, $500,000 by 2029, and an astonishing $1 million by 2033.
The analysts at Bernstein, Gautam Chhugani and Mahika Sapra, recently shared their bullish bitcoin price forecast while covering the bitcoin-focused software intelligence company Microstrategy. They are confident that bitcoin could hit $1 million by 2033 and anticipate a cycle high of $200,000 by 2025, a significant increase from their previous estimate of $150,000.
In their detailed analysis, they stated, “We are revising our bitcoin price prediction to a cycle high of $200,000 by 2025 (compared to our earlier estimate of $150,000).” Their base case projections include bitcoin reaching $200,000 by 2025, $500,000 by 2029, and $1 million by 2033.
The analysts attribute their optimistic price outlook to the increasing demand from spot bitcoin exchange-traded funds (ETFs). They believe that the introduction of U.S. regulated ETFs has been a game-changer for the crypto market, attracting significant capital from traditional sources. They predict that by 2025, bitcoin ETFs will hold approximately 7% of the total bitcoin in circulation, rising to 15% by 2033.
Furthermore, the analysts highlighted the impact of Bitcoin halving on the market dynamics. They explained that the halving event reduces the natural selling pressure from bitcoin miners by half, leading to a supply shortage. This, combined with new catalysts for bitcoin demand, results in exponential price growth. They emphasized, “We are confident that bitcoin is entering a new bull cycle.”
What are your thoughts on Alliance Bernstein’s bitcoin price projections? Share your opinions in the comments below.
