Wall Street Giant Bernstein Reveals the Bottom Level for Bitcoin (BTC)! Gives a Date!
Bitcoin (BTC) experienced another sharp drop over the weekend, continuing its downward trend that has been ongoing since October.
With this drop, which pushed Bitcoin below $75,000, predictions of further declines have diminished, and Bernstein has offered his assessment.
According to The Block, Wall Street giant Bernstein predicted that Bitcoin would bottom out at $60,000 and then recover.
According to Bernstein analysts, the cryptocurrency market is expected to initially decline this year but then tend to recover.
Analysts led by Gautam Chhugani said in a note sent to clients that cryptocurrencies may be in a short-term bear market cycle.
However, he stated that this bearish trend would reverse sometime in 2026 and that Bitcoin would likely bottom out in the first half of the year.
According to analysts, Bitcoin will bottom out around $60,000, the peak of the previous cycle, and then recover.
Bernstein attributed his bearish outlook for Bitcoin to several factors: Bitcoin’s relative weakness compared to gold, limited ETF outflows, and the diversification of miners’ income streams.
In response, analysts added that the current cycle being led by institutional investors and the US’s positive policy stance towards cryptocurrencies could be catalysts for a recovery.
Bernstein concluded that the current weakness is more of a late-cycle correction than the beginning of a prolonged crypto winter.
*This is not investment advice.
Continue Reading: Wall Street Giant Bernstein Reveals the Bottom Level for Bitcoin (BTC)! Gives a Date!
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