BTC price ‘collapse’ before ETFs or $150K in 2025? Forecasts for Bitcoin differ.

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22 Jan 2024

The cryptocurrency community is abuzz with speculations regarding Bitcoin’s future, particularly as the launch of the United States’ first Bitcoin spot price exchange-traded fund (ETF) looms on the horizon. In this dynamic landscape, contrasting predictions from notable figures like Peter Schiff and financial institutions like AllianceBernstein add to the intrigue. Will Bitcoin experience a significant price drawdown, as warned by Schiff, or is a bullish trajectory towards $150,000 in 2025, as predicted by AllianceBernstein, on the horizon?

Peter Schiff’s Perspective:

Peter Schiff, a renowned gold bug and longtime Bitcoin skeptic, is once again casting doubt on the cryptocurrency’s resilience. Schiff predicts a “serious price drawdown” for Bitcoin, suggesting that the anticipated ETF launch might trigger a substantial correction. In a recent survey, Schiff presented two scenarios for a potential Bitcoin “crash” — one occurring before the ETF launch and another after. Despite the majority favoring a “Buy and HODL till the moon” strategy, Schiff remains steadfast in his belief that a downturn is imminent.

AllianceBernstein’s Bullish Forecast:

Contrary to Schiff’s apprehensions, financial institution AllianceBernstein offers a more optimistic outlook for Bitcoin’s future. Analysts from the firm predict a peak of $150,000 in the next market cycle, emphasizing the ETF’s role in this projected surge. According to AllianceBernstein, the current breakout in Bitcoin’s price is indicative of ETF approval news gradually being priced into the market. The firm suggests that post-halving, ETF flows could gain momentum, leading to a potential cycle peak in 2025 rather than 2024.

Market Dynamics and ETF Approval:

The broader cryptocurrency market is closely monitoring developments surrounding the potential approval of the Bitcoin ETF. Speculation has intensified, with rumors of a green light possibly coming as early as November, contributing to Bitcoin’s recent ascent past $37,000. While some anticipate a “sell the news” event following the ETF approval, Schiff believes that the price correction might precede the launch, challenging the notion that those who bought the rumor will profit by waiting for the actual event.
BTC/USD cycle phases (screenshot). Source: AllianceBernstein/MarketWatch

Conclusion:

As Bitcoin enthusiasts eagerly await the outcome of the ETF saga, the market is rife with conflicting predictions. Peter Schiff’s cautionary stance clashes with AllianceBernstein’s bullish forecast, leaving investors to navigate a landscape of uncertainty. Whether Bitcoin experiences a pre-ETF “crash” or surges to $150,000 in 2025, the cryptocurrency’s future remains an intriguing and unpredictable journey. Investors are advised to conduct thorough research and exercise caution in this volatile market, acknowledging the inherent risks associated with cryptocurrency investments.
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Written by Shantanu Gupta

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