The current price correction of digital gold from $73,000 to around $63,000 is seen as a temporary opportunity for “buying the dip” ahead of the April halving. This perspective was shared by Bernstein researchers, reports The Block.
“We believe the current phase of bitcoin consolidation is temporary. It offers a dip-buying opportunity before the upcoming block reward halving,” noted analysts Gautam Chhugani and Mahika Sapra.
The charts below illustrate the consolidation of digital gold prices ahead of previous halvings:
In their view, the bull market will resume subsequently, and in 2025 the first cryptocurrency will rise to $150,000.
Earlier, Bernstein experts forecasted the growth of the cryptocurrency market to $7.5 trillion by the end of 2025.
Specifically, analysts predicted a surge in bitcoin’s market capitalization to $3 trillion, Ethereum to $1.8 trillion, and other leading projects like Solana and Avalanche to a combined $1.4 trillion.
Previously, Bernstein researchers mentioned that they expect an accelerated recovery of the DeFi segment amid the rise of the first cryptocurrency and a strong inflow of capital into spot ETFs.