The Shallowest Adjustment Phase: Asset Management Firm Maintains $150,000 Bitcoin Price Forecast for Year-End

On the 10th, analysts at the asset management firm Bernstein reiterated their bullish long-term outlook for Bitcoin (BTC), stating that the current downturn represents the 'weakest bear market' the asset has ever experienced, and does not undermine the investment rationale.

Historically, Bitcoin has undergone severe price adjustments during bear markets, breaking investor psychology. In the cycle that peaked in January 2018, the price plummeted by about 84% by December of the same year. Similarly, from the peak in November 2021 to the bottom in November 2022, the asset experienced a significant drop of about 77%...