Analysts at international research firm Bernstein expect the
price of Bitcoin could reach $300,000 by the end of 2029.
According to Investing, Bernstein analyst Gautam Chhugani said
Bitcoin could reach a new all-time high of $150,000 as early as
mid-2027.
The forecast is based on the expectation that Bitcoin will
continue to follow its traditional four-year cycle.
Bernstein believes the period of declining interest rates that
has persisted for years has come to an end. At the same time,
governments are facing rising public debt and increasing
debt-servicing costs.
It was noted that high interest rates could lead to wider budget
deficits and force governments to take on additional debt.
Bernstein believes that in such circumstances, authorities may seek
to support their economies by weakening national currencies.
Experts say this could increase investor interest in scarce
assets, including Bitcoin.
Bernstein also noted growing interest in cryptocurrency among
major financial institutions and private investors.
Meanwhile, the company lowered its price target for
MicroStrategy shares from $450 to $350 while maintaining its
“outperform” rating.
MicroStrategy is the world’s largest corporate holder of
Bitcoin, owning approximately 4% of the cryptocurrency’s total
supply.
Bitcoin is the world’s largest cryptocurrency and operates on a
decentralized blockchain network. The system allows participants to
generate, or “mine,” new coins by validating transactions and
creating new blocks on the blockchain.
Many investors view cryptocurrency as a digital alternative to
traditional currencies and financial assets. However, digital
currencies are known for their high volatility and are often
influenced by broader market sentiment and economic conditions.
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