Yesterday, Bitcoin, the leading cryptocurrency, fell to around $78,000 after rising above the $81,000 mark.
This surge is fueling talks of a BTC rally and bullish sentiment, which is why the global investment bank Bernstein has maintained its long-term bullish forecast for Bitcoin but revised the timelines of its price predictions.
First $150,000, Then a Peak of $300,000!
According to an analysis by Bernstein published by The Block, analysts expect Bitcoin to surpass its all-time high again within the current cycle, reaching the $150,000 mark by mid-2027.
Bernstein analysts predict that Bitcoin's next major cycle peak could occur in 2029, at around the $300,000 level.
Bernstein states that its forecasts are based on "debasement trading," referring to investors turning to scarce assets such as Bitcoin and gold to hedge against the devaluation of the dollar and other fiat currencies.
A $500,000 Target Scenario is Also Considered!
According to the analysis, Bernstein's base scenario forecasts a price level of approximately $125,000 by the end of 2026, $150,000 in mid-2027, and $300,000 in 2029.
However, analysts also believe that faster growth is possible if the theme of "asset price exchange" intensifies and institutional capital flows more actively into Bitcoin.
Under this scenario, Bitcoin could reach the $200,000 mark by mid-2027 and $500,000 by 2029. Bernstein also added that it maintains its long-term forecast that Bitcoin could reach around the $1 million mark by the end of 2033.
Bernstein analysts recently lowered their target price from $450 to $350 while maintaining an "Outperform" rating for Strategy, a Bitcoin treasury company.
*This is not investment advice.
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