Wall Street Giant Bernstein Reveals The Bottom Level For Bitcoin (BTC)! Gives a Date!
Bitcoin faced another strong decline over the weekend extending the bearish movement that has been in place since October.
With this drop which pushed Bitcoin below $75,000, predictions of further declines have diminished, and Bernstein has offered his assessment.
According to The Block Wall Street giant Bernstein predicted that Bitcoin would bottom out at $60,000 and then recover.
Bernstein analysts predict that the crypto market may drop at first this year before gradually recovering. Gautam Chhugani and his team noted that cryptocurrencies could currently be in a short-term bearish phase.
He added that the downtrend is expected to turn around in 2026, with Bitcoin likely reaching its lowest point during the first half of the year.
According to analysts Bitcoin will bottom out around $60,000, the peak of the previous cycle, and then recover.
Bernstein attributed his bearish outlook for Bitcoin to several factors: Bitcoin’s relative weakness compared to gold, limited ETF outflows, and the diversification of miners’ income streams.
Analysts also noted that institutional investor activity and the US’s supportive crypto policies could help spark a rebound. Bernstein said the current slump looks like a late-cycle correction rather than the start of a long crypto winter.