In a recent note, analysts at AllianceBernstein have forecasted that Bitcoin could surge to a cycle high of as much as $150,000 in 2025. The prediction is based on the upcoming halving event and the anticipated approval of Bitcoin exchange traded funds (ETFs).

The analysts at AllianceBernstein have divided Bitcoin's price movements into distinct four-year cycles, each consisting of four phases: break-out, hype, correction, and accumulation. These cycles are closely tied to the halving event, which occurs when the block rewards given to Bitcoin miners are halved after every 210,000 blocks, or roughly every four years. With three halvings already behind it, Bitcoin is expected to undergo its next halving in April of next year.

According to the analysts, the anticipated bull run in Bitcoin's price will be largely fueled by institutional inflows resulting from the approval of Bitcoin ETFs. They expect the initial flows to be slower and the buildup to be more gradual, with the real momentum picking up after the halving event. As a result, the analysts project that the cycle peak will be reached in 2025, rather than in 2024 as previously speculated.

The recent break-out in the price of Bitcoin, as stated by the analysts, is a reflection of the ongoing news concerning the potential approval of ETFs. As this news gradually gets priced in, the market will closely monitor the initial outflows from these funds, which may lead to short-term disappointment.

With Bitcoin becoming increasingly accepted by institutional investors and the potential for ETFs on the horizon, the cryptocurrency market is eagerly awaiting further developments. The analysts at AllianceBernstein's optimistic prediction of Bitcoin reaching $150,000 by 2025 underscores the growing confidence in the digital asset's long-term potential.

Disclaimer: The above article is based solely on the information provided by analysts at AllianceBernstein and should not be considered as financial advice. Investors are advised to conduct their own research and exercise caution when dealing with cryptocurrencies.