Bernstein Analysts Urge Crypto Investments Amid Bull Market Surge

As Bitcoin surges to new all-time highs above $82,000, analysts at brokerage firm Bernstein have urged investors to add crypto assets to their portfolios “as soon as possible,” according to The Block.

“Don’t fight it. Welcome to the bull market. Buy everything you can,” noted experts in a client note led by Gautam Chhugani.

Chhugani called on investors who previously refrained from investing in crypto due to regulatory issues to reconsider following the US elections. He anticipates a crypto-friendly regulatory environment under Donald Trump, beginning with the appointment of a new chair for the US Securities and Exchange Commission.

In July, Trump promised during a speech at the annual Bitcoin 2024 conference to dismiss SEC head Gary Gensler and establish a strategic Bitcoin reserve. He also vowed to “end the war on digital assets.” According to him, the US will become the cryptocurrency capital of the world.

“The directional move is for Bitcoin to become a treasury asset owned by corporations, governments, and institutions. It seems obvious to us,” noted Bernstein.

Among bullish indicators, Chhugani also mentioned support for cryptocurrencies from Trump’s team and supporters, as well as demand for spot Bitcoin ETFs, which have attracted around $4.7 billion in a few weeks.

What to Buy?

Bernstein analysts recommended purchasing a basket of digital assets, including BTC, ETH, SOL, OP, ARB, POL, UNI, AAVE, and LINK. 

“We remain confident in our Bitcoin price target of $200,000 by the end of 2025. Even at $81,000 per coin (+87% year-to-date), we consider the risk-reward ratio favorable over the next year,” Chhugani noted.

Back in September, Bernstein predicted Bitcoin’s price could rise to $90,000 by the end of 2024 if Trump wins the election.