Bitcoin Price Prediction: BTC Could Reach $80,000 By The End Of 2025 According To Bernstein

Bitcoin’s (BTC) price witnessed a slight decline, settling at $66,399.80 as of 3 am EST, as investors adjusted their positions ahead of the

Sophia Cruz•Friday, March 22, 2024•2 min read

In the last 24 hours, Bitcoin’s (BTC) price witnessed a slight decline, settling at $66,399.80 as of 3 am EST, as investors adjusted their positions ahead of the weekend.

Bitcoin Price Prediction: BTC Could Reach $80,000

Despite the fluctuations in Bitcoin’s price, analysts at Bernstein still believe in Bitcoin’s potential for this year. In a recent report, Bernstein revised its year-end target for BTC upwards to $90,000 from the previous $80,000.

Bitcoin (BTC) has recorded a second higher low on its 4-hour chart in the last 12 hours. This only not resulted in BTC surging above the $65,847.29 resistance level, but also resulted in the formation of a bullish trend line.

If BTC managers close the next two 4-hour candles above this crucial level, it may lead to BTC establishing a robust technical foundation for further bullish movement. This may prompt BTC to attempt a breakthrough of the $68,863.99 barrier, potentially targeting as high as $72,564.10 soon. ,

However, if BTC goes below the $65,874.29 level within the next 12 hours, this could nullify this bullish scenario and place Bitcoin price beneath the said bullish trend line.

Bitcoin could be at risk of correcting towards the next significant level at $61,481.65 within the following 48 hours if this happens. However, continuous selling pressure at this stage could potentially drive BTC’s price down to as low as $57,758.63

Meanwhile, JPMorgan strategists anticipate additional declines in Bitcoin’s price as the spot Bitcoin ETF inflows are slowing. They believe that BTC is currently in the ‘overbought’ position.

In a recent analysis, CryptoQuant CEO Ki Young Ju stated a decrease in net flows of spot Bitcoin ETFs, indicating a possible change in market sentiment. Ju suggests that if BTC’s price approaches critical support levels, the demand for BTC may rebound. In addition, a significant number of new whales, primarily comprising ETF buyers, have entered the market with a reported on-chain cost basis of $56,000.

As of this writing, Bitcoin (BTC) is down by 3.37%, trading at $64,661.49.

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Sophia Cruz

Financial Writer - Asian & European Desks

Sophia is an experienced writer, reporter and newsdesk member, mostly on the financial sectors. For the past 5 years Sophia has covered a wide variety of topics such as the financial markets, economics, technology, fin-tech and trading. Sophia has been a part of the FX Leaders team since 2017 and works on producing valuable content and information for traders of all levels of experience.