Bernstein analysts name the perfect time to buy bitcoin

❗ Not financial advice!

Bernstein analysts believe that now is the perfect time to buy bitcoin BTC $74,762.09 Bitcoin 0.97% Market capitalization $1.48 trillion VOL. 24 hours $3.61 billion , as crypto assets are at low price levels. According to experts, after each market downturn, the industry has been gradually enriched by numerous virtual investments.

Last year, cryptocurrencies experienced a significant collapse in exchange rates, as several global events occurred in 2022 that affected this: the collapse of the Terra ecosystem, the fall of the Three Arrows Capital hedge fund, and the bankruptcy of the FTX crypto exchange. The industry was also negatively impacted by the increase in interest rates by the US Federal Reserve Commission (Fed).

Traditional finance market players believe that in 2023, the bitcoin rate is likely to fall even further. However, Bernstein analysts are of the opposite opinion. They emphasize that bitcoin has gone through two crypto zones in its history, and after each fall, the asset has always grown with exponential returns.

Financial experts believe that the cryptocurrency industry will withstand the next market downturn. Experts predict that with the development of user-friendly crypto applications and the ecosystem as a whole, the number of cryptocurrency holders in the world will increase 10−100 times.

As a reminder, the flagship cryptocurrency is expected to grow significantly in 2023. Thus, the head of the ShapeShift cryptocurrency exchange, Eric Voorhees, said that the BTC has every chance of reaching $ 40,000 by the summer. Bitcoin investor and billionaire Tim Draper went even further and predicted the growth of the flagship cryptocurrency to $ 250,000. Mike McGlone, a senior strategist at Bloomberg Intelligence, does not change his long-standing assumptions and assures that by 2025, the BTC will grow to $ 100,000.

We would like to add that at the time of writing, the flagship asset of BTC $74,762.09 Bitcoin 0.97% Market capitalization $1.48 trillion VOL. 24 hours $3.61 billion is worth $ 16,844.