Analysts Predict BTC Hitting $200,000 Next Year and $1 Million by 2033 — 'We Believe Bitcoin Is in a New Bull Cycle'
Bernstein analysts Gautam Chhugani and Mahika Sapra shared their bitcoin price prediction on Friday while initiating coverage of the bitcoin-focused software intelligence firm Microstrategy (Nasdaq: MSTR). They believe BTC could reach $1 million by 2033 and forecast a cycle high of $200,000 by 2025, up from their previous estimate of $150,000.
“We revise up our bitcoin price expectation to $200K cycle-high by 2025 (vs. $150K earlier),” they detailed, adding:
Our base case estimates: bitcoin at $200K by 2025 … $500K by 2029 … and $1Mn by 2033.
The analysts largely attribute their bullish price forecast to the strong demand from spot bitcoin exchange-traded funds (ETFs). “We believe that U.S. regulated ETFs were a watershed moment for crypto, bringing in structural demand from traditional pools of capital,” they opined. They estimate that by 2025, bitcoin ETFs will hold about 7% of the BTC in circulation, increasing to 15% by 2033.
