Analysts at international research firm Bernstein expect the price of Bitcoin could reach $300,000 by the end of 2029. According to Investing, Bernstein analyst Gautam Chhugani said Bitcoin could reach a new all-time high of $150,000 as early as mid-2027. The forecast is based on the expectation that Bitcoin will continue to follow its traditional four-year cycle.
Bernstein believes the period of declining interest rates that has persisted for years has come to an end. At the same time, governments are facing rising public debt and increasing debt-servicing costs. It was noted that high interest rates could lead to wider budget deficits and force governments to take on additional debt.
Bernstein believes that in such circumstances, authorities may seek to support their economies by weakening national currencies. Experts say this could increase investor interest in scarce assets, including Bitcoin. Bernstein also noted growing interest in cryptocurrency among major financial institutions and private investors.
Meanwhile, the company lowered its price target for MicroStrategy shares from $450 to $350 while maintaining its "outperform" rating. MicroStrategy is the world’s largest corporate holder of Bitcoin, owning approximately 4% of the cryptocurrency’s total supply. Bitcoin is the world's largest cryptocurrency and operates on a decentralized blockchain network.
The system allows participants to generate, or "mine," new coins by validating transactions and creating new blocks on the blockchain. Many investors view cryptocurrency as a digital alternative to traditional currencies and financial assets. However, digital currencies are known for their high volatility and are often influenced by broader market sentiment and economic conditions.
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