Bernstein expects Bitcoin (COIN:BTCUSD) to reach $300,000 by the end of 2029, with ***** yst Gautam Chhugani identifying the cryptocurrency as a major potential beneficiary of what he describes as the debasement trade.
The forecast ***** umes Bitcoin continues to broadly follow its historical four-year market cycle, with Bernstein also expecting the cryptocurrency to recover to a new record high of $150,000 by the middle of 2027.
"Following our price-to-marginal cost framework, we would expect the next market peak to be $300K by CY2029E and the market recovering to new all-time high of $150,000 by mid-2027E," Chhugani wrote in a note to clients.
Bernstein's longer-term Bitcoin outlook is partly based on its view that the four-decade period of declining interest rates has come to an end.
Governments are consequently facing higher debt-servicing costs at a time when sovereign debt levels have reached unprecedented levels, creating additional pressure on public finances.
#debt #levels
The forecast ***** umes Bitcoin continues to broadly follow its historical four-year market cycle, with Bernstein also expecting the cryptocurrency to recover to a new record high of $150,000 by the middle of 2027.
"Following our price-to-marginal cost framework, we would expect the next market peak to be $300K by CY2029E and the market recovering to new all-time high of $150,000 by mid-2027E," Chhugani wrote in a note to clients.
Bernstein's longer-term Bitcoin outlook is partly based on its view that the four-decade period of declining interest rates has come to an end.
Governments are consequently facing higher debt-servicing costs at a time when sovereign debt levels have reached unprecedented levels, creating additional pressure on public finances.
#debt #levels
23 hours ago
