Bitcoin crash just ‘another opportunity’ as price heads to $200,000, Bernstein says

Bitcoin volition scope $200,000 contempt this week’s crash.

Bernstein offered that prediction aft Donald Trump’s threatened tariffs against Canada and Mexico triggered the full crypto marketplace to driblet astir 9% astatine the commencement of this week, shaving astir $300 cardinal disconnected its value.

Yet, the probe steadfast said successful a Tuesday enactment that it is inactive assured that Bitcoin volition bounce backmost and deed $200,000 implicit the adjacent 12 months.

“We presumption the existent correction arsenic different accidental to enactment successful this cycle,” analysts Gautam Chhugani, Mahika Sapra, and Sanskar Chindalia wrote.

Bernstein previously said that Bitcoin would deed $200,000 astatine the extremity of 2025, but the analysts cautioned that the breakout whitethorn beryllium delayed by “a fewer months” if the existent risk-off sentiment lingers.

Crypto marketplace watchers said the clang was triggered by several factors, including Trump’s tariffs, the Federal Reserve’s continued dovishness, the implosion of Argentinian President Javier Milei’s memecoin, and the fallout of the $1.4 cardinal Bybit hack.

Yet, Bernstein said there’s “no reasons to alteration our bullish presumption of the existent Bitcoin marketplace structure,” citing continued adoption of integer assets by ample institutions.

The analysts are not unsocial successful voicing that benignant of bullishness.

Geoffrey Kendrick, planetary caput of integer assets probe astatine UK slope Standard Chartered, said connected Tuesday that helium expected the existent marketplace driblet into the debased $80,000s earlier it bounces back, creating an accidental to “buy the dip.”

Bitcoin exchange-traded funds volition person to spot outflows of $1 cardinal successful a time earlier buying the bottommost looks attractive, Kendrick said.

He echoed Bernstein’s sentiment that Bitcoin volition deed $200,000.

Another bullish motion comes from options markets, wherever investors are betting Bitcoin volition surge to $120,000 successful March contempt crypto markets crashing this week.

Data from basedmoney.io shows that astir 4 retired of each 10 trades that expire March 28 volition lone wage retired if Bitcoin hits supra $120,000.

Andrew Flanagan is simply a Markets Correspondent for DL News. Got a tip? Reach retired to [email protected].