Bitcoin will reach $200,000 in 2025, report says Alliance Bernstein analysts also project the cryptocurrency may climb to $500,000 by 2029.

A new forecast from analysts at AllianceBernstein says that bitcoin has the possibility of reaching $200,000 next year, propelled by "unprecedented bitcoin demand" from the recent launch of bitcoin exchange-traded funds (ETFs), among other factors.

In March, AllianceBernstein said that the world's leading digital asset might reach $150,000 by the close of 2025, but it has since adjusted this forecast in light of bitcoin's historic four-year trajectory. The bitcoin halving, which typically occurs every four years, is a major factor in determining bitcoin's price performance. 

While the outlook for 2025 might seem overly bullish, AllianceBernstein unveiled even more optimistic figures for the world's leading cryptocurrency in 2029 and 2033 – claiming that bitcoin was on track to hit $500,000 by the close of 2029 and even a million by 2033.

Part of AllianceBernstein's confidence draws on sustained interest in bitcoin ETFs, which the SEC approved this January. The funds allow mainstream investors to gain exposure to bitcoin without directly holding them. So far, they have pulled in $17 billion since their launch, precipitating a wave of optimism about the nascent asset class.

AllianceBernstein views the ongoing inflows to bitcoin ETFs as “setting the foundation for the breakout phase,” which will result in the price of bitcoin rising accordingly. However, they also warn that this may be followed by a "hype" phase, defined as a period in which “investors imagine unrealistic price targets."

Although bitcoin did scale to a high of $73,000 this past March, it remains to be seen if AllianceBernstein's bold predictions will come into fruition.