Despite not expecting a smooth, volatility-free ascent, the firm sees a favorable risk-reward balance for Bitcoin in 2024.
What Happened: Gautam Chhugani and Mahika Sapra, analysts at Bernstein, shared their insights in a note to investors: “While we are not calling for a straight volatility-free climb to all-time-highs, we are comfortable with the risk-reward for the rest of 2024 at today’s price.”
Following the launch of 10 Bitcoin spot exchange-traded funds (ETFs) in the US on Jan. 11, Bitcoin's price briefly touched $49,000 and is currently trading around $42,600.
Bernstein's report identifies the $42,000 to $43,000 range as a strategic entry point, offering a "no-regrets price with asymmetric upside."
They predict a 65% increase in Bitcoin's value, aiming for the $70,000 mark by year-end.
Why It Matters: The analysts attribute their bullish stance to four key factors:
What's Next: The research note also sees the growth of Bitcoin's on-chain ecosystem, including developments like Ordinals and layer 2 solutions, as a positive indicator.
Read Next: Bitcoin Falls Below $43,000; Monero, Flare Among Top Losers
Image: Pixabay
© 2026 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
To add Benzinga News as your preferred source on Google, click here.
