In a recent advisory note, Bernstein has reaffirmed its optimistic outlook on the cryptocurrency market, forecasting a prolonged bull phase. The firm argues that political backing from the United States and growing institutional involvement could lead to an unprecedented extension of the current cycle. Bernstein predicts that Bitcoin (BTC) might leap to values ranging from $150,000 to $200,000 within the next year.
Are New Peaks on the Horizon?
This prediction is part of a broader expectation for a persistent bull market beyond the conventional cycle. Bernstein analysts Gautam Chhugani and Mahika Sapra suggest that the U.S.’s initiatives to establish itself as a major crypto hub could lead the charge. Their analysis indicates that the bullish phase may continue well into 2026, potentially reaching a climax by 2027.
The momentum is anticipated to extend beyond Bitcoin, encompassing Ethereum (ETH), Solana (SOL), and a variety of DeFi-centric altcoins. The analysts base these projections on fundamentals supporting capital flow into trading platforms and stablecoin creators.
What’s Driving the Expansion of Trading Platforms?
Bernstein has revised upward its target for Robinhood (HOOD) from $105 to $160. Several factors contribute to this adjustment: a dramatic 110% surge in cryptocurrency trading activity on the app, thriving stock and option trades, and Bitstamp’s acquisition enhancing Robinhood’s institutional reach. The entry into staking and tokenized European markets also plays a role, underscoring Robinhood’s capacity to weather crypto market fluctuations.
For Coinbase (COIN), a target of $510 has been set. Noteworthy is the platform’s achievement of over $100 billion in trading volume in July, a 44% rise in transaction revenue, increased perpetual futures trading, and Deribit’s options platform being integrated after a hefty $2.9 billion deal. Coinbase’s contributions to the widespread use of USDC and its “everything exchange” ambition are highlighted as significant growth drivers.
The valuation for Circle (CRCL) is maintained at $230. Expectations are set for a boost in USDC supply, from $68 billion presently to $99 billion by 2026 and $173 billion by 2027, bolstered by advancements in payment-centric Arc Blockchain and strategic banking collaborations.
Key insights derived from Bernstain’s note are:
- U.S. support critical for sustained market growth.
- High-value targets for key crypto platforms suggest robust future revenues.
- USDC’s expected substantial supply increase reflects growing adoption.
Bernstein’s foresight highlights the evolving landscape of cryptocurrency investments and the potential for significant gains ahead. The convergence of political support, institutional adoption, and innovative trading solutions points to a dynamic future for the crypto sector.
