Summary
- Bernstein reported that Bitcoin (BTC) will reach $200,000 within the year and that this is a conservative target.
- Bernstein noted that the inflow of institutional investors into the market and the structural development of the market will drive Bitcoin price increases.
- As of the 11th, Bitcoin is reported to be trading at $109,022.20 in the Binance USDT market.
According to cryptocurrency-specialized media Bitcoin.com on the 10th (local time), United States Wall Street-based asset management firm Bernstein stated that "the forecast that Bitcoin (BTC) will reach $200,000 this year is also a conservative target."
Bernstein added, "The acceleration of institutional investors entering the market and the structural development of the market will drive Bitcoin prices higher," noting, "We are confident it will reach $200,000 within the year, but this is a rather conservative target."
Meanwhile, as of 01:34 on the 11th, Bitcoin is trading at $109,022.20 on the Binance Tether (USDT) market, up 0.98% from the previous day.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.![[Market] Bitcoin breaks below $68,000 as losses deepen](https://media.bloomingbit.io/PROD/news/3a08fe32-6a33-4a62-bb89-4afb5c5399ca.webp?w=250)
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