Bittime - The crypto asset market was shaken again with a significant increase in the price of BTC (Bitcoin) which reached its all-time high on Tuesday (12/3). BTC soared from $67,232 at the start of the day to reach $72,863, setting a brilliant new record.
This sharp rise was driven by a variety of factors, including huge demand for the recently launched physical Bitcoin Exchange Traded Fund (ETF) product. This ETF allows institutional investors to gain exposure to Bitcoin without having to purchase and hold the crypto asset directly.
In the midst of the crypto market frenzy, renowned asset manager Bernstein released a report that caught the attention of investors.
The report not only highlights Bitcoin's impressive performance, but also confirms Bernstein's confidence in the potential for more significant price increases in the future.
Bernstein Believes BTC Price Will Reach $150,000
Analyst Bernstein predicts that the price of BTC could reach $150,000 by 2025. This optimism is based on several factors, including:
- High Demand for Bitcoin ETFs: The demand for physical Bitcoin ETF products indicates high interest from institutional investors in this crypto asset. This is predicted to push BTC prices up in the future.
- Bitcoin's Strong Performance: Bitcoin has shown great performance in recent months, with significant price increases and decreasing volatility. This indicates that Bitcoin is increasingly mature and attractive to investors.
- Growing Bitcoin Adoption: More and more companies and institutions are starting to adopt Bitcoin as their reserve asset. This shows that Bitcoin is increasingly being accepted as a legitimate financial instrument.
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Bitcoin Mining Stocks Are an Opportunity Amid a Significant Decline?
Even though BTC prices have soared, shares of Bitcoin mining companies have actually experienced a decline in the last few days.
This was triggered by investor concerns regarding the Bitcoin halving event which will occur in April 2024.
Bitcoin halving is an event where Bitcoin mining rewards are cut in half. This can impact mining companies' profitability, especially in the short term.
However, Bernstein remains optimistic about the long-term prospects of Bitcoin mining stocks. According to them, the current price decline could be an opportunity for investors to buy these shares at a cheaper price.
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BTC/USDT Price Today
Source: Bittime.com
On March 13, 2024, the price of Bitcoin BTC/USDT was at $72,198 per coin, up 0.46% in 24 hours and 13% in the past week.
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BTC Integration into Traditional Finance
Bernstein believes that Bitcoin has the potential to be further integrated into the traditional financial system. This could open up new opportunities for investors and drive future BTC price growth.
Conclusion
The rise in BTC prices to an all-time high and Bernstein's belief in the potential for more significant price increases show that this crypto asset still has room to grow.
Investors need to pay close attention to market developments and carry out in-depth analysis before making investment decisions.
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How to Buy Bitcoin (BTC) on Bittime
You can buy and sell Bitcoin (BTC) in an easy and safe way via Bittime . Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti.
Bitcoin (BTC) is available on Bittime with the market pair BTC/IDR . To be able to buy BTC/IDR at Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application.
Learn the complete guide on how to buy Bitcoin (BTC) on Bittime.
Monitor price chart movements of Bitcoin (BTC) , Ethereum (ETH) , Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.
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DISCLAIMER: This article is informational in nature and is not an offer or solicitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.
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