Despite the recent fall in prices, the Bernstein financial analysis company remains optimistic and maintains its ambitious forecast of $ 200,000 for Bitcoin. His analysts consider this correction as a strategic purchase opportunity before the next top of the cycle.
Bernstein predicts a bitcoin at $ 200,000 within 12 months
Bernstein published this week an analysis note sent to The Block, in which his experts maintain their Bitcoin price target at $ 200,000 over a 12 -month horizon. This projection comes as the Crypto market is experiencing a significant correction phase, with a bitcoin that has passed below $ 87,000 in recent days.
According to Bernstein analysts, a price less than $ 80,000 is a particularly attractive entry point for investors. “” We believe that price levels less than $ 80,000, if the feeling continues to weaken, would offer an interesting risk-reward report for investors who seek to position themselves for the next 12 to 18 months to new summits of the cycle cycle »»they specify in their report. This vision is based on their conviction that Bitcoin has not yet reached its cyclic peak.
Bernstein's upward position is based on a fundamental thesis: Bitcoin is imposing itself as a class of assets “of digital golden »»carried by an institutional and sovereign demand in full acceleration. According to their analysis, capital entries from institutions and companies should continue to grow during the current cycle, supporting the progress of the course towards their $ 200,000 target.
A correction market in the face of multiple challenges
Bernstein's reassessment intervenes in a particularly tense market context. Bitcoin recently dropped below $ 87,000, its lowest level since November 2024, losing more than 7 % in 24 hours. This drop is in a broader corrective trend, fueled by several factors that analysts have identified.
Among the causes of this volatility, Bernstein cites in particular the consequences of Bybit's major piracy, estimated at 1.5 billion dollars, as well as the controversy surrounding the Libra token supported by Argentine President Javier Milei.
In addition, the US ETF Bitcoin recorded more than $ 516 million outings in one day, bringing the total of withdrawals to $ 1.14 billion in two weeks, according to Farside Investors data.
In addition to these events specific to the Crypto sector, analysts stress that ” The Bitcoin market follows the general feeling of risk of actions, fueled by macroeconomic concerns around ever higher interest rates »».
An accumulation dynamic that continues
Trade tensions between Washington and Beijing, with the announcement of a possible visit from Xi Jinping to the United States, as well as increasing concerns concerning IA investment spending, also contribute to this volatility. This analysis joins that of Iliya Kalchev de Nexo, who notes that ” Global economic factors exert a considerable influence on the crypto market, making bitcoin vulnerable to external pressures. »»
Contrary to this downward trend, certain institutional actors like Strategy continue to strengthen their position. Between February 18 and 23, the company acquired additional 20,356 BTC for $ 1.99 billion, bringing its total to almost 500,000 bitcoins, or around 2.3 % of the world supply.
Despite the current volatility and the 76 % drop in activity on the Bitcoin blockchain, Bernstein remains confident in its long -term projection. As Raoul Pal reminds us, ” In 2017, we experienced five corrections of more than 28 %, each for two to three months, before reaching new heights ”. This historical perspective suggests that the corrections are an integral part of the bitcoin bulls and could even offer strategic opportunities for patient investors.
Maximize your Cointribne experience with our 'Read to Earn' program! For each article you read, earn points and access exclusive rewards. Sign up now and start accumulating advantages.
