Bitcoin will resume its bullish momentum after the halving and could reach $150,000 by the end of 2025, analysts at brokerage company Bernstein promise.

Formally, the Bitcoin network halving itself does not affect changes in demand, Bernstein says. However, market catalysts such as a reduction in the supply of military-technical cooperation will become drivers of price growth. And over time, the imbalance between supply and demand will only increase.

As a result of the halving, about 7% of the network hashrate will be disconnected, since less efficient miners will not be able to recoup operating costs and will become unprofitable, Bernstein experts believe. The potentially available supply of military-technical cooperation will decrease for objective reasons. Then the situation may return to normal after a series of mergers and acquisitions in the mining market. The industry is likely to consolidate towards four leading publicly traded mining companies: CleanSpark, Marathon, Riot Platforms and Cipher Mining.

“Historically, a Bitcoin price breakout has always followed a halving. At the same time, catalysts for demand for the asset received additional value in the eyes of investors and were synchronized with the event. For example, in the 2024 cycle, the launch of Bitcoin ETFs led to strong price increases. We believe that Bitcoin's bullish trajectory is inevitable and will resume after the halving when the mining hashrate corrects. and the influx of liquidity into ETFs will resume,” analysts conclude.

The price of Bitcoin could reach $150,000 by the end of 2025, brokers from Bernstein suggest.

Bernstein previously published a forecast that by the end of 2025, the market capitalization of Bitcoin will reach $3 trillion, and that of Ethereum will increase to $1.8 trillion.