Summary
- Bernstein projected that Bitcoin would reach $200,000 within the next 12 months.
- They analyzed that if Bitcoin's price falls to $80,000, it would present an attractive entry opportunity.
- Bitcoin is currently trading at $87,132.08 on the Binance Tether market, down 8.20%.
According to The Block, a cryptocurrency-focused media outlet, on the 25th (local time), Bernstein, a Wall Street-based research and brokerage firm, projected that Bitcoin (BTC) price would reach $200,000 within the next 12 months.
In a memo sent to The Block, Bernstein analyzed that "BTC has not yet reached its cycle peak and is expected to approach $200,000 within the next 12 months."
They further explained that "if investment sentiment continues to deteriorate and BTC falls to $80,000, it would present an attractive entry opportunity."
Meanwhile, as of 02:23 on the 26th, BTC is trading at $87,132.08 on the Binance Tether (USDT) market, down 8.20% compared to the previous day.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
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