Bernstein Research: Welcome To Bull Run Crypto!

Bull run crypto is predicted to just start. (Photo; Doc. NewsBTC)

JAKARTA - The crypto market has again become a prima donna among other investment assets, led by Bitcoin (BTC) which recently recorded a new record high or All Time High (ATH) at a price of 89,600 US dollars or around Rp. 1.386 billion. The successive increase in Bitcoin in the past week has received the spotlight from a well-known research firm, Bernstein Research.

Bernstein Research encourages investors to join in enlivening this trend by increasing crypto asset ownership. In a recent report released last Monday, Bernstein is very optimistic about the prospects for kripot assets, suggesting investors buy crypto assets that can be purchased.

"Welcome to the crypto bull run. Let's all (coins) while we can," the report read, reported by Coinpedia.

Bernstein analysts, Gautam Chhugani, Mahika Sapra, and Sanskar Chindalia, see policy changes in Washington as the main trigger of the current Bitcoin price spike. They estimate that the outcome of the United States election will bring a more crypto-friendly policy, starting with the possibility of support from the More pro-crypto Securities and Exchange Commission (SEC) under president-elect Donald Trump.

Furthermore, Bernstein predicts the price of Bitcoin could reach 200,000 US dollars (approximately IDR 3.1 billion) next year. Although the current price has reached 81,000 US dollars (approximately IDR 1.25 billion), up 87% so far this year, analysts are still seeing a more attractive potential profit.

Apart from Bitcoin, Bernstein analysts are also optimistic about some major altcoins such as Ethereum (ETH), Solana (SOL), and Arbitrum (ARB). They project that easing regulations against tokens in the United States will improve altcoin performance beyond Bitcoin in the next year.

With a market capitalization of 1.76 trillion US dollars according to CompaniesMarketCap data, Bitcoin is now the eighth largest asset in the world, surpassing silver in ninth place with a capitalization of 1.71 trillion US dollars. With this achievement, Bernstein believes that the era of the crypto bull run has begun.