BitcoinBTC soared higher again, by more than $60,000 per bitcoin after a top Fidelity executive issued a huge $1.5 trillion bitcoin price forecast.
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The bitcoin price has more than doubled in the past six months, boosting ethereum, XRPXRP and other cryptocurrencies, thanks to a raft of long-awaited spot bitcoin exchange-traded funds (ETFs) gate crashing on Wall Street – with another massive “catalyst” quietly. upcoming.
Now, as a new series of emails has revealed “stunning” information about the identity of bitcoin’s mysterious creator Satoshi Nakamoto, the bitcoin and crypto market is poised for “unprecedented institutional adoption,” according to Bernstein analysts.
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“Bitcoin is on an 18-month path to $150,000, led by unprecedented institutional adoption,” Bernstein analysts led by Gautam Chhugani wrote in a note to clients seen by DLNews.
Wall Street giants, led by BlackRock and Fidelity, have pummeled the bitcoin and crypto market in recent months, with a handful of spot bitcoin ETFs raising billions of dollars in a matter of weeks.
“It’s official … the new nine bitcoin ETFs broke an all-time volume record today with $2.4 billion, just barely beating day one but about double their recent daily average,” Bloomberg Intelligence senior ETF- analyst Eric Balchunas posted to X, adding the $1.3 billion in trading volume for BlackRock’s spot bitcoin ETF was “insane” for a “newbie ETF” and is “big boy level volume, enough for (even big) institutional consideration.” “
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Meanwhile, bitcoin and crypto analysts are looking ahead to bitcoin’s impending supply cut, known as a halving, which will see the number of new bitcoins issued to so-called miners decrease in exchange for preserving the network.
“Fundamentally, it is more logical to expect poor performance before a halving, but this is not the case, and investors must accept this reality with a false start to the market due to the influx of institutionalization via comfortable spot bitcoin ETFs, ” Alex Kuptsikevich, senior analyst at FxPro, said in email comments.
“Demand is also being aided by strong risk appetite thanks to all-time highs in the major indices.”
The next bitcoin halving, which occurs roughly once every four years and is bitcoin’s fourth such supply reduction, is expected to take place in mid-April.
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