Analysts at Bernstein, the giant institution on Wall Street, stated that the recent drop in Bitcoin is a buying opportunity.
Bernstein analysts Gautam Chhugani and Mahika Sapra said that the $10,000 drop in Bitcoin is a buying signal before the expected halving in April.
The analysts mentioned in a note that Bitcoin consolidation is temporary at the current stage and presents a buying opportunity before the halving.
They also pointed out that the next 18-month cycle is an opportunity for the Bitcoin and crypto ecosystem, expecting the market to calm down and the bull season to continue.
The analysts also discussed the importance of Spot Bitcoin ETFs, stating that ETF flows will continue to impact prices. They emphasized that historically Bitcoin consolidates before halving, but the current situation may not be the same.
They highlighted that the recent drop looks healthy and did not affect their views. According to Chhugani and Sapra, Bitcoin will reach levels of $150,000 by 2025, which is the peak of the cycle.
According to CoinGecko data, Bitcoin is currently trading at $62,850.
