Bitcoin Hit $88K, Bernstein Research: “Buy Everything You Can”

The cryptocurrency market is booming, with Bitcoin (BTC) recently reaching a new high of $88k.

In light of this, Bernstein Research has advised investors to jump on the rally and increase their cryptocurrency investments. The firm’s advisory, released on Monday, stated:

“Welcome to the Crypto bull market. Buy everything you can.”

Analysts Gautam Chhugani, Mahika Sapra, and Sanskar Chindalia believe changes in Washington’s political climate are a key reason for the current surge.

Bitcoin Could Hit $200k  

Chhugani suggests that investors who have been avoiding crypto because of regulatory concerns should reconsider now, especially after the U.S. elections. 

He predicts a crypto-friendly regulatory shift under President Trump, starting with a pro-crypto SEC. Bernstein had previously forecasted Bitcoin could reach $200,000 by next year, and Chhugani remains confident, saying that even at $81k, the risk-reward ratio for Bitcoin is good for the next 12 months.

Peter Brandt’s Bold Prediction  

Veteran trader Peter Brandt also sees a bright future for Bitcoin. He recently mentioned on X that Bitcoin offered many buying opportunities between March and October 2024, suggesting a potential strong rally ahead. Brandt believes Bitcoin could hit $125k by the end of the year, based on past trends.

Bernstein’s Altcoin Picks  

Beyond Bitcoin, Bernstein analysts also recommended several altcoins, including Ethereum (ETH), Solana (SOL), Optimism (OP), Arbitrum (ARB), Polygon (POL), Uniswap (UNI), Aave (AAVE), and Chainlink (LINK). 

They expect these altcoins to perform well as the regulatory landscape around them improves. Bernstein predicts that Ethereum and Solana could even outperform Bitcoin over the next year.

Bitcoin Surpasses Silver  

Bitcoin has now overtaken silver to become the 8th largest asset by market cap. As of now, Bitcoin’s market cap is $1.76 trillion, while silver’s stands at $1.71 trillion. This is another milestone for Bitcoin.

As the cryptocurrency market grows, experts encourage investors to embrace the trend, with both Bitcoin and altcoins likely to continue gaining value.