HomeBitcoinBernstein experts believe that...

Bernstein experts believe that Bitcoin will go way up in price because of ETF-based boosts.

According to experts at the Wall Street company Bernstein, they believe that the value of Bitcoin will go up to around $70,000 by the end of the year.

According to a new report by StreetInsider, analysts Gautam Chhugani and Mahika Sapra say in a new research note that the approval of spot BTC exchange-traded funds (ETFs) will make the price of the top crypto asset go up.

“In a market where there is a limited amount of a product available, even a small increase in demand can affect the price. ” ETFs make up 3. 5% of the total supply, and over 12% of Bitcoin is still held on exchanges. However, the important thing to consider is the new demand for Bitcoin, as it is easier to predict the sell pressure.

The analysts at Bernstein also think that Bitcoin mining companies in the US could expand their operations this year, even though the upcoming halving event for Bitcoin in April will reduce the rewards for mining.

“We think 15% of expensive miners will make less Bitcoin, but cheap and competitive miners will make more (we like RIOT and CLSK). “

Chhugani and Sapra think that making Bitcoin layer-2 protocols will help the network work better.

“We think layer-2s will still help miners make money from processing transactions, and more people will keep buying and selling tokens and NFTs, which will also help the Bitcoin developer community grow. “

Also, they say that the overall economy could be good for the main digital currency this year.

“If the early election results show that there might be a new government after the elections and that the current leaders at the SEC (U. S agency for financial markets) might change, especially those who are not supportive of cryptocurrencies. ” The Securities and Exchange Commission’s decision could cause Bitcoin and other cryptocurrencies to gain value, and the rates could make the gains even higher.

Bitcoin currently has a value of $44,139.

- A word from our sponsors -

Most Popular

LEAVE A REPLY

Please enter your comment!
Please enter your name here

More from Author

BINANCE RECONSIDERS RULES FOR TOKEN LAUNCH, INSISTS ON QUALITY FOR NEW LISTINGS

Binance has noticed the low-float token trend and will limit...

Bullish Forecast for Bitcoin (BTC) from Analysts: “Last Opportunities Before Parabolic Rally!”

While Bitcoin has experienced a significant increase recently, surpassing $67,000, analysts...

KOI Announces Strategic Partnership with B² Network

KOI, Kingdom of Inscription, a unique game economy powered by AI...

Which Altcoins Will Binance List? Here is the New Strategy!

While Binance, the world's largest cryptocurrency exchange, continues its altcoin listings...

- A word from our sponsors -

Read Now

BINANCE RECONSIDERS RULES FOR TOKEN LAUNCH, INSISTS ON QUALITY FOR NEW LISTINGS

Binance has noticed the low-float token trend and will limit listings based on a new rule set. Venture-backed projects are entering the market, often with a low float. VC funding returned in Q1, creating a new challenge for centralized exchanges. Binance issued a new list of rules for...

Bullish Forecast for Bitcoin (BTC) from Analysts: “Last Opportunities Before Parabolic Rally!”

While Bitcoin has experienced a significant increase recently, surpassing $67,000, analysts continue to interpret BTC's price movements and make new predictions. At this point, many analysts argue that Bitcoin is currently in a consolidation and reaccumulation phase. Analysts note that the current phase presents an opportunity for investors to...

KOI Announces Strategic Partnership with B² Network

KOI, Kingdom of Inscription, a unique game economy powered by AI and Bitcoin liquidity, is pleased to reveal that they have entered into a partnership with B² Network, the prime choice for Bitcoin’s Layer-2 framework. This partnership is aimed at adding a new layer of liquidity to...

Which Altcoins Will Binance List? Here is the New Strategy!

While Binance, the world's largest cryptocurrency exchange, continues its altcoin listings at full speed, it significantly moves the price of the relevant altcoin with its listings. While investors were looking forward to Binance listing new altcoins, a new statement came from the exchange regarding the altcoin listing policy. At...

ENERGY SECTOR SEES THE BIGGEST SPIKE IN “AI” MENTIONS IN Q1, BEYOND TECH

More energy companies talked about AI in the earnings call in Q1, compared to the previous quarter. The info-tech and communication sectors still account for the highest number of “AI” mentions. The traction of AI development is placing a huge demand on energy globally. Artificial intelligence is...

Big Debate Between Analyst Saying “Bitcoin is Dead” and a 50 Years of Economist

Peter Schiff and Peter Brandt, two analysts who frequently share analyzes about the cryptocurrency market, got into a serious discussion. The discussion first started after gold-loving analyst Peter Schiff commented on the performance of some assets recently. Citing a previous tweet, Schiff mentioned that the price of silver...

Nimble Network Announces a New Collaboration with Anome

Nimble Network, a decentralized artificial intelligence orchestration layer to improve the AI ecosystem, has recently announced an exclusive partnership. As per the company, it is joining forces with Anome (an on-chain game ecosystem focusing on enhancing GameFi, NFT liquidity, NFTFI, and DeFi. On its official account on...

RESEARCH SHOWS AI HELPS IN HEALTH CARE TRANSFORMATION

AI accelerates drug discovery in the healthcare sector. AI transforms health research but requires careful implementation. Faster disease diagnosis with AI, but bias concerns. Artificial intelligence is reshaping health research and speeding up the discovery of drugs and disease investigation. With the help it brings to the healthcare...

Solana and Sui Lead Fastest Blockchain Race with Record Transaction Speeds

In the dynamic world of blockchain technology, transaction speeds have become a pivotal metric for measuring platform performance. CoinGecko’s latest report reveals a notable surge in transaction speeds across leading blockchain platforms, driven by a wave of on-chain activity and the rising popularity of meme coins. Solana Leads...

These Are The 28 Altcoins Binance Has Invested In But Hasn’t Listed Yet

Binance Labs, the investment arm of Binance, the world's largest cryptocurrency exchange, has been investing in many altcoin projects recently. However, Binance does not yet list many of the altcoins it invests in on its exchange platform. Although Binance's investment in a project does not guarantee listing on...

BRITISH MOTORISTS SKEPTICAL OF AI-DRIVEN VEHICLE SUPERIORITY

Three in five British drivers doubt automatic vehicles’ capabilities. AI technology faces skepticism from British motorists. UK drivers think they’re better than AI cars. A recent poll suggests that 60% of UK drivers are convinced they are better than automatic AI-driven vehicle technologies. The UK government hopes to...

CryptoQuant CEO Announces the Bullish End Date in Bitcoin!

Leading cryptocurrency Bitcoin reached a new ATH, surpassing its previous ATH of $69,000 before the halving in April. While the new ATH before Halvig increased investors' bullish expectations, BTC experienced serious corrections afterwards. While these corrections caused speculation that the bear market had started again, CryptoQuant CEO Ki Young...