Wall Street Analyst Predicts Bitcoin Will More Than Double by End of Year

A recent analysis by Bernstein suggests that Bitcoin has reached its lowest point and will soon begin to rise again. According to Gautam Chhugani, a Wall Street analyst, the token's value is expected to more than double between now and the end of the year.

The current price of Bitcoin is around $66,600, down from an all-time high of over $126,000 reached in October last year. Despite this decline, Chhugani remains optimistic about the cryptocurrency's future prospects.

Chhugani attributes the recent sell-off to a temporary reset in the market, rather than systemic stress as seen in past crypto bear markets. He also notes that Bitcoin has outperformed gold since the Iran war began, further supporting his bullish view.