empty
22.03.2024 07:11 PM
Bitcoin: "monster cycle" and targets at $80,000–$90,000 by end of year

Recent events in the financial markets have sparked a wave of discussions regarding whether there is a transfer of assets from gold-backed exchange-traded funds (ETFs) to Bitcoin ETFs.

Despite the rapid growth of Bitcoin ETFs in the USA, investment bank research indicates that the introduction of these cryptocurrency funds has not had a significant impact on the outflow from gold ETFs.

As of March 21st, the total value of Bitcoin ETFs reached $11.3 billion despite significant fund outflows from the Grayscale Bitcoin ETF.

This image is no longer relevant

Gold ETFs vs. Bitcoin ETFs

The increased interest in digital gold has prompted discussions about a possible shift to Bitcoin, often referred to as digital gold. However, JPMorgan's analysis refutes this viewpoint, pointing out that the outflow from gold ETFs began as early as April 2022, before the launch of Bitcoin ETFs in the USA, indicating a trend unrelated to the growth of Bitcoin ETFs.

Data from the World Gold Council provides a broader picture. From September 2020 to December 2023, investors poured $229 billion into gold bullion, and central banks additionally acquired $155 billion. According to Nikolaos Panigirtzoglou from JPMorgan, this suggests a change in preferences rather than a decrease in the attractiveness of gold.

Regarding Bitcoin ETFs, interest in them as alternative investments is growing, especially among the younger generation. However, Bryan Armour from Morningstar and Nate Geraci from The ETF Store note that, at present, the market linkage between gold and Bitcoin ETFs remains minimal.

Armour expressed confidence that although there is a small group of investors transitioning from gold to Bitcoin, the outflow from gold is not related to the introduction of Bitcoin ETFs, as any interaction between them is limited, which is reflected in portfolios.

Even among Bitcoin ETFs, there was an outflow of funds this week. Farside Investors reported that over the past four days, there has been a total outflow of $836 million from Bitcoin ETFs, reflecting market volatility.

Bernstein and Standard Chartered Update their Bitcoin Forecasts

Standard Chartered, following an even more optimistic approach, expects Bitcoin to reach $150,000 by the end of the year and possibly $250,000 next year. These forecasts envision a future in which Bitcoin could replicate the investment trajectory of gold, drawing parallels with gold ETFs.

Analysts' forecasts at Bernstein promise an optimistic end to the year for the leading cryptocurrency. They have raised their forecast for Bitcoin by the end of the year from $80,000 to $90,000, citing several bullish factors.

According to the report, there is currently a new bull cycle for Bitcoin, supported by strong inflows into recently launched spot Bitcoin ETFs, active expansion of cryptocurrency mining capacities, and record profits for miners.

Analysts Gautam Chhugani and Mahka Sapra noted in their report:

"With a new bitcoin bull cycle, strong ETF inflows, aggressive miner capacity expansion, and all-time high miner dollar revenues, we continue to find bitcoin miners compelling buys for equity investors seeking exposure to the crypto cycle."

They also noted that Bitcoin miners remain attractive to investors seeking to enter the cryptocurrency cycle and have revised their assessments of stocks of companies engaged in cryptocurrency mining.

Analysts also predict a 15% decrease in hash rate due to shutdowns after the Bitcoin halving. However, based on current conditions, this value has been revised to a 7% decrease.

"We assume a 7% reduction in hashrate post halving from shutdowns versus 15% earlier."

The hash rate typically drops after halving because some miners become unprofitable due to reduced rewards.

Monster Cycle

Bernstein anticipates a "monster cryptocurrency market cycle" and predicts that the total market capitalization of cryptocurrencies will reach $7.5 trillion by 2025, nearly three times the current value of $2.53 trillion.

Bernstein's optimistic forecast also includes predictions for individual cryptocurrencies. For example, by 2025, Bitcoin's market capitalization will increase from the current $1.31 trillion to $3 trillion. Based on this forecast, the price of Bitcoin could double by next year and reach $150,000.

Ringkasan
Segera
Analitic
Ekaterina Kiseleva
Mulakan perdagangan
Jana pendapatan melalui perubahan kadar mata wang kripto dengan InstaForex.
Muat turun MetaTrader 4 dan buka dagangan pertama anda.
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    SERTAI PERADUAN

Artikel yang dicadangkan

Cadangan Dagangan untuk Pasaran Mata Wang Kripto pada 20 Ogos

Kejatuhan Bitcoin kepada sekitar $112,500 telah mencetuskan perbincangan meluas sama ada pasaran kenaikan harga yang berlangsung tahun ini telah berakhir. Pembelian institusi kian merosot, peserta pasaran baru tidak muncul

Miroslaw Bawulski 10:02 2025-08-20 UTC+2

Petua dagangan untuk pasaran kripto pada 19 Ogos (sesi Urusniaga Amerika Utara)

Bitcoin dan Ethereum mencatatkan pemulihan pada pagi ini, sama seperti semalam, namun kenaikan seterusnya dijangka berdepan halangan. Sejak kebelakangan ini, sesi dagangan di New York sering disertai tekanan jualan, justeru

Miroslaw Bawulski 16:18 2025-08-19 UTC+2

Tether bersedia untuk memasuki pasaran AS

Bitcoin terus berlegar dalam julat $114,000 hingga $117,000, sekali gus menimbulkan keraguan terhadap momentum kenaikan jangka pendeknya. Dalam masa yang sama, penerbit stablecoin terbesar dunia, Tether, telah mengambil bekas ketua

Jakub Novak 16:03 2025-08-19 UTC+2

Pengaliran keluar dari ETF spot Bitcoin dan Ethereum berterusan

Menurut data terkini, pengeluaran dari ETF spot Bitcoin dan Ethereum telah berterusan untuk hari kedua berturut-turut. Semalam, pengeluaran bersih dari ETF spot ETH mencecah $197 juta, menandakan pengeluaran satu hari

Jakub Novak 09:54 2025-08-19 UTC+2

Cadangan Dagangan untuk Pasaran Matawang Kripto pada 19 Ogos

Bitcoin semalam cuba untuk pulih dari paras $114,500, dan nampaknya percubaan itu cukup berjaya. Semasa dagangan Asia hari ini, terdapat cubaan untuk naik melebihi $117,000, tetapi ini berubah menjadi satu

Miroslaw Bawulski 08:35 2025-08-19 UTC+2

Cadangan Dagangan untuk Pasaran Mata Wang Kripto pada 18 Ogos

Bitcoin memulakan minggu baru dengan penurunan aktif menuju 115,000. Selepas hujung minggu tanpa pembelian ketara dalam pasaran mata wang kripto dan Bitcoin gagal untuk kukuh di atas 118,000, pedagang terus

Miroslaw Bawulski 09:18 2025-08-18 UTC+2

Pemain utama raih keuntungan besar dalam pasaran kripto

Semalam, Bitcoin dan Ether mengalami penurunan yang mendadak pada separuh kedua hari, tetapi kerugian ini beransur-ansur dibeli semula, menghentikan kemungkinan penjualan besar-besaran yang dicetuskan oleh pemain utama yang mengambil keuntungan

Jakub Novak 10:30 2025-08-15 UTC+2

Cadangan Dagangan untuk Pasaran Mata Wang Kripto pada 15 Ogos

Bitcoin mencatat paras tertinggi sepanjang masa yang baharu sebelum menjunam dengan ketara ketika sesi dagangan di Amerika Syarikat, dan kini kekal berhampiran paras 117,100. Tahap ini dianggap penting kerana penembusan

Miroslaw Bawulski 08:57 2025-08-15 UTC+2

Solana cuba untuk melepasi tahap pivot hari ini. Jumaat, 15 Ogos 2025.

[Solana] – [Jumaat, 15 Ogos 2025] Dengan persilangan EMA (50) dan EMA(200) dalam keadaan Golden Cross, dan RSI (14) pada tahap neutral cenderung menaik, Solana berkemungkinan besar akan mengukuh sepanjang

Arief Makmur 07:00 2025-08-15 UTC+2

Filecoin berpotensi untuk melemah dan jatuh ke paras sokongan terdekatnya. Jumaat, 15 Ogos 2025.

[Filecoin] – [Jumaat, 15 Ogos, 2025] Dengan RSI(14) berada dalam zon Neutral-Menurun dan EMA(50) berada di bawah EMA(200) (membentuk persilangan Death Cross), terdapat kebarangkalian tinggi Filecoin akan melemah hari

Arief Makmur 06:50 2025-08-15 UTC+2
Tidak boleh bertanya sekarang?
Tanya soalan anda di Ruangan bersembang.
Panggilan semula Widget
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.

We are sorry for any inconvenience caused by this message.