The digital currency market is experiencing notable expansion, primarily driven by Bitcoin (BTC), which has recently surged to a new all-time high of $89.6k.
Against this optimistic backdrop, Bernstein Research has issued a strong advisory encouraging investors to capitalize on the rally and expand their exposure to cryptocurrencies. They also advised against going against the current trend. In a note released on Monday, they stated,
“Welcome to the Crypto bull market. Maximize your buying activity.”
The analysts at Bernstein, including Gautam Chhugani, Mahika Sapra, and Sanskar Chindalia, highlighted a change in the political landscape in Washington as a significant driver behind the ongoing bull market.
Predictions Point Towards Bitcoin at $200k
Chhugani suggested that investors who had previously steered clear of crypto assets due to regulatory uncertainties should reconsider their stance following the outcome of the U.S. election.
He anticipates a regulatory environment favorable to cryptocurrencies under President Donald Trump’s leadership, starting with a pro-crypto SEC.
Earlier, Bernstein had forecasted that Bitcoin could reach an ambitious target of $200,000 by the following year. The analysts remain confident in this prediction, with Chhugani stating,
“Even with Bitcoin at $81K (+87% YTD), we believe the risk-reward ratio is favorable over the next 12 months.”
Peter Brandt’s Bold End-of-Year Forecast
Experienced trader Peter Brandt also shared an optimistic outlook. In a recent post on X, Brandt explained how Bitcoin had presented multiple buying opportunities from March to October 2024 through price dips.
This laid the foundation for a potential “mark-up” phase—a strong upward surge that, based on historical trends, may not reverse once initiated.
By utilizing the rally from January to March 2024 as a statistical reference (or “Bayesian prior”), Brandt suggested a probabilistic scenario where,
“The price could reach $125k by the New Year.”
Bernstein’s Predictions for Altcoins
In addition to Bitcoin, Bernstein’s positive outlook extended to a diverse array of digital assets.
The analysts recommended notable selections such as Ethereum (ETH), Solana (SOL), Optimism (OP), Arbitrum (ARB), Polygon (POL), Uniswap (UNI), Aave (AAVE), and Chainlink (LINK).
Moreover, they anticipated a significant upsurge in altcoins, stating,
“With the relaxation of regulations surrounding tokens, we foresee Ethereum, Solana, and other digital assets outperforming Bitcoin over the next 12 months.”
Bitcoin Surpasses Silver
After recently surpassing Meta, Bitcoin has now overtaken Silver to become the 8th largest asset by market capitalization. As per CompaniesMarketCap data, BTC stood firm with a market cap of $1.76 trillion, while Silver lagged behind at $1.71 trillion.
If Bitcoin’s price continues to climb, it is likely to surpass Saudi Aramco, the world’s largest oil company—marking another significant milestone in Bitcoin’s ascension among global assets.