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Gautam Chhugani, a top analyst at research and brokerage firm Bernstein, has made critical predictions about the leading digital currency, Bitcoin. In a recent analysis of the asset, Chhugani highlighted critical factors that could catalyze Bitcoin’s price to $200,000 by 2025.
The analyst cited some factors that could positively impact Bitcoin, including the pro-crypto persons already nominated for key roles in President-elect Donald Trump’s incoming administration. Others include Trump’s campaign promise of a Bitcoin strategic reserve and regulatory promises, amongst other indicators.
<h2 id="b-pro-crypto-political-nominations-boosts-market-sentiment-b">Pro-Crypto Political Nominations Boosts Market Sentiment</h2>
After Trump’s win, the transition team made key nominations for top administration positions. Notable among those nominated are two Bitcoin advocates, Robert F. Kennedy Jr. and Pete Hegseth. The duo were nominated for Secretary of Health and Secretary of Defense positions, respectively.
While these might influence the administration’s policy direction towards cryptocurrency, many anticipate a more pivotal nomination. From a crypto perspective, the<a href="https://thecoinrise.com/crypto-leaders-slam-sec-chair-gensler-amid-speculation-of-resignation/" rel="noopener noreferrer nofollow"> nominations of the head of the United States Securities and Exchange Commission</a> (SEC) and the Treasury Secretary will significantly impact the price of crypto assets.
The Bernstein analyst believes the market should remain positive if these nominations include pro-crypto candidates. Since Trump’s win, the broader crypto industry has experienced a bullish run, with most assets attaining new heights.
<h2 id="b-analyst-confidence-in-bitcoin-s-price-b">Analyst Confidence in Bitcoin’s Price</h2>
Earlier in April,<a href="https://thecoinrise.com/bitcoin-price-bernstein-stays-bullish-with-150k-price-target/" rel="noopener noreferrer nofollow"> Bernstein analysts predicted a rise in BTC to $150,000</a>. At that time, BTC’s trading price fluctuated between a low of about $60,000 and $66,000. Chhugani noted that now that the market has gained appreciable value, investors no longer consider the $100,000 level a delusional prediction.
He insists that things were on course to push Bitcoin’s price up to the $20,000 mark. According to him, the crypto market is entering a stage where intrigue could turn to pain for Bitcoin bears. Chhugani remains confident in the firm’s prediction of achieving $200,000 by the end of 225.
<h2 id="b-institutional-demand-and-strategic-bitcoin-reserves-b">Institutional Demand and Strategic Bitcoin Reserves</h2>
Another crucial factor that might fuel a surge to the predicted level centers around Trump’s quest for a Bitcoin strategic reserve pledge.<a href="https://thecoinrise.com/senator-lummis-bitcoin-reserve-bill-garnered-public-support/" rel="noopener noreferrer nofollow"> Senator Cynthia Lummis has already introduced a draft bill</a> that, if passed, will require the U.S. to purchase about 5% of the Bitcoin supply over the next 5 years. This increased demand should drive up the price of BTC.
Others include institutional demand and MicroStrategy’s large appetite for Bitcoin acquisition. According to data, BTC is currently trading for $89,583.30 after hitting a high of $92,114 in earlier trading.
The post <a href="https://thecoinrise.com/bernstein-predicts-bitcoin-path-to-200k-as-new-ath-looms/" rel="noopener noreferrer nofollow">Bernstein Predicts Bitcoin’s Path to $200K as New ATH Looms</a> appeared first on <a href="https://thecoinrise.com/" rel="noopener noreferrer nofollow">TheCoinrise.com</a>.

Bernstein Predicts Bitcoin’s Path to $200K as New ATH Looms

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