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Bitcoin (BTC) is now mainstreamed, and Bernstein analysts now predict a bullish outlook for BTC price analysis in Q2, as Bitcoin price momentum grows, and with major growth on the horizon – deep-dive this Bitcoin price prediction.
Drawing back from its March high-water mark, teasing the $74,000 threshold, Bitcoin’s price momentum remains strong with investment firm Bernstein reaffirming its claim of $150,000 BTC by 2025—or perhaps even earlier.
All of this is against the backdrop of a volatile meme coin market—in this article, we will answer which market is set to outperform in 2024.
#Bitcoin slipped to $63,000 Monday as the crypto rally faded during the U.S. trading session amid more regulatory pressure. $SOL and $XRP showed relative strength. @sndr_krisztian reportshttps://t.co/VEADKYUB2o
— CoinDesk (@CoinDesk) May 6, 2024
Meme coins like Bonk suffered a -6% tumble yesterday but have since rebounded, while Floki and Dogwifhat have also recovered after bad losses.
So, according to the data, which market will be the first to reach new all-time highs?
Bernstein’s Bitcoin Price Forecast: Can We Hit $150,000?
Bernstein’s Gautam Chhugani and Mahika Sapra are betting on Bitcoin’s next act. They see Bitcoin’s recent price action as the early stages of a bull cycle that is poised for significant growth over the next 15-18 months.
According to them, Bitcoin’s recent slide under $57,000 was a healthy correction that purged the market of excess leverage.
(BTCUSDT)
In a turn of fortunes, Bitcoin ETFs are feeling the love again, with steady consecutive days of net inflows after significant outflows.
However, Bitcoin’s recent journey on the charts paints a mixed picture.
While the long-term price action remains bullish, thanks to the 200-day MA remaining well below current price levels, short-term signals are flashing caution, with the MACD histogram bars moving into negative territory, underscoring sluggishness.
DISCOVER: The Best Solana Meme Coins in May 2024
The Memecoin Market’s Mixed Bag Against Bitcoin Price
Interest in Solana-based meme coins, once a fever pitch that sent the RSI soaring above 70, has now calmed, prompting a market-wide pullback.
Altcoins, often the early birds of bull markets when the Bitcoin price crabs, are currently nursing a hangover with a 15% fall from grace since April.
This cooling off is further evidenced by a marked decrease in trading volumes for meme coins since the end of the first quarter
Recent data on the U.S. economy indicate a strong performance, shifting investor preference towards the relative safety of U.S. Treasurys over the volatile world of cryptocurrencies, including meme coins.
Given this trend, investors are moving to secure gains from meme coins like Bonk, Book of Meme, Floki, Dogecoin, and Shiba to traditionally more stable assets.
If Meme Coins Do Pop Off This Could 10X – Discover SEALANA
While meme coins struggle to find their footing and the Bitcoin price steadily rises, 99Bitcoin analysts expect a new meme coin Sealana (SEAL) to keep rocketing in presales.
A presale for Sealana, the South Park-inspired seal, released on Solana Wednesday, taking in nearly $300,000 within days of launch.
In a recent video, 99Bitcoins analysts predicted Sealana is “set to explode as Solana begins to rally.”
Get Your Hands on Sealana Now At The Presale Here.
EXPLORE: How Are Bitcoin Mining Stocks Performing? MARA Shares Slumps as RIOT Posts $211M Q1 2024
Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital
