- Bitcoin climbed above $73,000 following surging inflows into newly launched ETFs.
- ETF daily inflows reached a record $1.05 billion on March 13, surging 108% from the previous day.
- Bernstein’s analysts are confident Bitcoin will reach the $150,000 price target by 2025.
Bitcoin broke above $73,000 on Monday amid increasing ETF inflows. The flagship cryptocurrency continued to rally, with analysts growing more confident BTC would achieve an original prediction of $150,000 in the current bull cycle.
Following Monday’s rally, Bernstein’s analysts, Gautam Chhugani and Mahika Sapra, reiterated their bullish forecasts that Bitcoin will push much higher after the upcoming halving event. They believe the current momentum is strong enough to cause a follow-through after the slashing of miners’ rewards later in April.
According to the analysts, recent developments make them more convinced that their last year’s prediction about Bitcoin will come to pass. The analysts said:
We built bitcoin institutional flows in our estimates to arrive at bitcoin price. We estimated $10 billion inflows for 20…