Siebert Financial analyst targets $175,000 bitcoin price, cites ETFs and stablecoin growth

Bitcoin may surpass $175,000 over the next few quarters, according to Brian Vieten, senior research analyst at Siebert Financial, a diversified financial services firm. Vieten shared this forecast during comments made on October 14, attributing his bullish outlook to the maturing structure of the market and new institutional developments. Vieten explained that bitcoin’s resilience has improved significantly since the crypto lending failures in 2022. Broader ownership and increased access to financing options now underpin the market’s foundation, he stated. His valuation model for bitcoin incorporates three main factors: overall money supply growth, the rate of digital wallet adoption, and demand trends for the cryptocurrency. Vieten regards exchange-traded funds (ETFs) as an increasingly vital source of long-term investment in bitcoin.

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