Analysts at Bernstein have raised their target for bitcoin by the end of 2025 from $150,000 to $200,000.

The forecast is driven by expectations of "unprecedented demand from bitcoin-based spot exchange-traded funds" managed by BlackRock, Fidelity and Franklin Templeton, among others.

Bernstein's baseline estimates the price of the first cryptocurrency will reach $500,000 by the end of 2029 and $1 million by 2033.

Exciting news from Bernstein! The increased target for bitcoin shows strong confidence in its future growth potential, especially with the expected surge in demand from major financial players. The projected price milestones for bitcoin are definitely something to keep an eye on in the coming years. 