Bitcoin at $200,000 by the end of 2025?

Since 2021, Bitcoin investors have been hoping for a price of $100,000, but asset manager Bernstein is adding another 100 percent, predicting Bitcoin could be at $200,000 by the end of 2025.

Bernstein analysts not only estimate that Bitcoin will reach this level, but even call it a "conservative" estimate. "Given increasing institutional acceptance, we expect Bitcoin to triple from this point and reach a cycle high of $200,000 by the end of 2025," according to the analysis. In an earlier analysis, Bernstein estimated Bitcoin's cycle high at $150,000 by 2025.

In particular, the introduction of spot ETFs is predicted to drive Bitcoin price growth, as seen earlier. Although BTC exchange products attracted more than $2 billion in investments last week, we saw a reversal on Oct. 22 with net outflows of nearly $80 million. Nonetheless, the performance of the 11 ETFs remains impressive; since trading began in January, the likes of BlackRock and other major players have bought up $21.4 billion worth of Bitcoin.