Bitcoin reached its highest level of $97,000 mid-January, but never again saw the annual high. The price plunged directly to $60,000 in February. It fluctuated between $62,000 and $75,000. BTC had a price correction in June. It is currently at $63,000. Even the leading institution BlackRock is on a BTC selling spree and has offloaded $527.8 million last month.
Leading private wealth manager, Wealth Management Group is still thriving despite ongoing market declines and sales. Bernstein wrote in a note to clients on Monday (June 8) that Bitcoin could still reach a high of $150,000 This year, 2026. The investment bank continues to be bullish, believing that BTC’s price may more than double over the next six-month period. This forecast is made at a time when the market as a whole has lowered its expectations for the largest cryptocurrency in the world.
You may also like: AI Stocks Are Falling: Should I Buy Nvidia Stock Now?
Bernstein says bitcoin will reach $150,000 by 2026
In a note sent to Bernstein clients, researchers explained that the recent decline in Bitcoin prices is not indicative of a declining asset but rather a mature one. According to them, the lower retail activity indicates a market that is more stable and healthy for institutions rather than experiencing a decline. Analysts explained that BTC’s relatively quiet year was evidence of institutional growth rather than an unrelenting decline.
Retail investors have shifted their focus to AI stocks, mainly in an effort to gain quick profit. It is possible for institutions to purchase Bitcoins at a lower price, and then sell them when the prices reach their peak. Retailers will rush to buy BTC at higher prices, in the hope of gaining profits. Bernstein claims that this move could further strengthen Bitcoin by weeding out casual investors.
Bernstein’s Bitcoin price prediction is accurate. This would mean a 138% increase in six months. This is a huge return, as an investment of $1000 could become $2380. The investment bank sees the market in a bullish light, while the rest of the world is focusing on the negative.
You may also like: XRP in Oversold Zone, Claims Cryptocurrency Analyst
“This article is not financial advice.”
“Always do your own research before making any type of investment.”
“ItsDailyCrypto is not responsible for any activities you perform outside ItsDailyCrypto.”
Source: watcher.guru
