Bernstein Predicts $150,000 Bitcoin Price by End of Year Amid Growing Institutional Adoption

Bitcoin has been experiencing a downturn in recent times, with many analysts predicting a continued decline in its value. However, one top Wall Street investment firm is bucking this trend by forecasting a significant increase in the cryptocurrency's price.

Bernstein, the investment firm, believes that Bitcoin's current bear market cycle may be weaker than previous ones, citing the lack of insolvencies and spectacular failures reported so far. This optimism is reflected in their prediction that the price of Bitcoin could reach $150,000 by the end of the year.

According to Bernstein, institutional adoption of Bitcoin remains on track, with large asset managers and investors continuing to add it to their portfolios. The firm also notes that net inflows have returned to spot Bitcoin ETFs, indicating growing confidence in the cryptocurrency's value.